Los Angeles Faces Threat of Insolvency as Early as Next Month

Los Angeles Faces Threat of Insolvency as Early as Next Month – A bitter political dispute between city’s elected leaders and its powerful municipal utility threatens to push Los Angeles into insolvency.  The City Controller Wendy Greuel warned this week that the city’s general fund could run out of money and fall $10 million into the red by May 5. – WSJ