Detailed text transcripts for TV channel - MSNBC - 20120701:17:19:00
Agreed to new terms. >> but not enough. >> not enough, exactly. >> the biggest u.s. city to ever file for bankruptcy. what might this mean to other cities across the country? >> it depends. could be a good thing, could be a bad thing. the last city, viello, california, they only had 50 million in debt. not a billion dollars like stockton. you don't want another situation where the bankruptcy goes on and on and it's a terrible thing, and what they want to have a is a quicker, in and out sort of deal. and that's the game plan for stockton at this point. >> okay, also northern california. matthew...