Page 18 - Patrick Morris News Today

Agreements that were made at a time when life looked rosy. >> morris admits it has been in good times and bad that san bernardinos public unions had powerful influence over the politicians. the politicians they help elect. morris says that is just the way its. >> in a blue collar city as old as we are unions have a presence in terms of funding for candidates for are city council and they are present at the table during labor negotiations. >> those negotiations in some cases have bound san bernar...

Guidance of chapter 9. >> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >>...

going broke, reporting from wall street in new york city, heres bret baier. >> this hour, we are going to take you inside an alarming trend. cities that have slid deep into debt, even bankruptcy. new yorks not on that list today, but for a number of other reasons, we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they have borrowed from wall street. we saw tha...

accomplish. >> fox news reporting cities going broke. reporting from wall street in new york city here is bret baier. >> this hour we will take you inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they have borro...

accomplish. >> fox news reporting, cities going broke, reporting from wall street in new york city, heres bret baier. >> this hour, we are going to take you inside an alarming trend. cities that have slid deep into debt, even bankruptcy. new yorks not on that list today, but for a number of other reasons, we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because of the millions they ...

city there is nothing we cant accomplish. >> fox news reporting cities going broke. reporting from wall street in new york city here is bret baier. >> this hour we will take you inside an alarming trend. cities that have slid deep into debt. even bankruptcy. new york is not on the list today but for a number of other reasons we begin our report from this spot, americas financial nerve center. the first reason is simple. some of the nations most desperate cities are in trouble because o...

>> why that is that not happened? >> it will happen under the guidance of chapter 9. >> in other words bankruptcy court. public sector unions are saying not so fast. they point to state precedent that suggests their pensions are untouchable. however morris is former judge believes in this unprecedented crisis the courts will allow them to modify some of their contracts. he is dealing with the day-to-day trials of the city gone belly up. >> you are paying cash for things. >> cash and carry. a>> a...

On old route 66 san bernardino was the last stop before la. with three freeways and a major railroad station it was the ideal hub linking los angeles and long beach out to the rest of the country. san bernardino sim poll li symbolized the promise it held for middle class america. it was loetcation of the first mcdonalds. it is a short fall of $36 million over a quarter of the entire budget unable to find enough cuts to close the gap san bernardino on august 1st filed for bankruptcy. >> you have ...

Yet? >> it will happen under the guidance of chapter 9. >> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> th...

♪ get your kicks on route 66 >> on old route 66, san bernardino was known as the last stop before l.a. ♪ san bernardino >> with freeways and major railway station it was the ideal hub linking the ports of los angeles and long beach out to the rest of the country. san bernardino symbolized the promise that economic growth held for middle class america. it was even the location of the first mcdonalds. but today, this city of around 210,000 has a shortfall of $46 million. over a quarter of its ...