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.
The Most Important California Bill You've Never Heard Of
By Joe Mathews
John Moorlach, the accountant who predicted the 1994 Orange County bankruptcy sees Up to 10 Municipal Bankruptcies in Coming Year.