The Southern California city considers bankruptcy, after the departure or collapse of successive industries left it unable to pay for fire, police and other services.
The allegations against brokerage firm Peregrine Financial shed light on weak regulations of the futures industry. Analysts point to MF Global missing funds similarities.
Tess is joined by senior producer Paddy Hirsch and credit expert Liz Weston to talk about credit utilization, bankruptcy amongst seniors, and the down side of buying real estate for your kids.
Dewey & LeBoeuf filed for bankruptcy protection last night. In the last half century, large corporate law firms have enjoyed an enormously lucrative run. Although in the last four to five years revenue has flattened out.
Dewey & LeBoeuf, one of the largest law firms in the country, filed for bankruptcy last night after months of financial turmoil and partner defections.
The city of Stockton, Calif. has been hit hard by the financial crisis. With the city on the verge of bankruptcy, residents share what it's like when your town is teetering on the brink.
