You probably haven't heard of Assembly Bill 155. It's a measure that would seem obscure -- whether the state should have to sign off before a city or county declares bankruptcy. But it's spawned a big fight in Sacramento.
John Moorlach, the accountant who predicted the 1994 Orange County bankruptcy sees Up to 10 Municipal Bankruptcies in Coming Year.
Friday, May 28, 2010 Updated at 6:50 AM PDT