Muni BK's - More Coming?

I think the Stockton BK is going to be an interesting canary to watch.  There's a lot of municipalities that will have issues with future obligations.   Stockton, Ca. is the canary in the coal mine because it's the first larger domino to fall. 

Stockton, Calif., tests legalities of city bankruptcies

By Dennis Cauchon and Judy Keen, USA TODAY

"The bankruptcy of Stockton, Calif., could be the crucial test case that determines whether local governments can use the federal courts to shed burdensome retirement benefits in a way that corporations often do."

Read the full article at USA Today.