Page 41 - Patrick Morris News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> it was a perfect storm economically when this hit in 2006 and 2007 the bottom fell out. >> in the perfect storm, morris says san bernardino property values dropped by 65%. seven car dealerships shuttered and the city lost tens of millions of dollars of sales, income tax and tax receipts. >> we have major cash flow issues. >> he names a great recession. every city in california has been through the great recession. >> republican state assemblyman mike mor morrell rejects morri' perfect storm analogy at least that a sear reof factors came together to devastate the city. >> they had five years...

>> 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 don't really have any credit. >> that's right. >> cash for things. >> carry.d kari. >> you vendors who leased equipment who may way to to take that equipment back. >> yes. >> and that is a d...

translates well. he skates his heart out and trains and trains and ends up beating a lot of big fellows i'm sure from michigan where i came from, wisconsin, minnesota, becomes a member of the united states speed skating team, long track, bonnie blair, isn't she the best. anyway he is long track so he comes out to salt lake city and skates his heart out. gets the silver and gold medal. fastest man on earth on skates. i invited him to sit with the vice president and as he came in i said derek what was the most meaningful experience in the olympic games and he said carrying in the flag ...

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, america's financial nerve center. the first reason is simple. some of the nation's most desperate cities are in trouble because of the millions they have borrowed from wall street. we saw that 171 miles from here in a city buried under decades of debt. >> h...

i guess rollerblading translates well. he skates his heart out and trains and trains and ends up beating a lot of big fellows i'm sure from michigan where i came from, wisconsin, minnesota, becomes a member of the united states speed skating team, long track, bonnie blair, isn't she the best. anyway he is long track so he comes out to salt lake city and skates his heart out. gets the silver and gold medal. fastest man on earth on skates. i invited him to sit with the vice president and as he came in i said derek what was the most meaningful experience in the olympic games and he said...