Detailed text transcripts for TV channel - FOXNEWS - 20120820:17:19:00
Imagine, 10% of those districts and municipalities and jurisdictions in california in financial crisis. megyn: that are now at risk. but now this moody's report, i gather, prompted the california state treasurer to come out and say look, in part, california has 482 cities, three have declared bankruptcy. that's troubling, but hardly evidence of a looming stampede into bankruptcy court and default. so is the problem, you know, it's only three cities, he says, you know, it's not great, but don't be panicking. >> there is no reason for panic, he's quite right in that. but there is also no reason ...