Since 2010, 33 municipalities across the country have filed for bankruptcy. Not since the Great Depression have so many cities been so broke. No other place in the U.S. has borne the brunt more than the Central Valley city of Stockton, Calif. – the largest city in American history to file for bankruptcy. Now, the city has defaulted on its bond payments and stripped health care from retired police officers and firefighters. All the while, an unprecedented legal battle is raging between creditors and the city in federal bankruptcy court.

This piece from the Center for Investigative Reporting is well worth watching because it documents how slick operators come into an area and talk local leaders into some nifty development scheme… something we have witnessed in Coos County from time to time.