Tuesday, April 06, 2010

L.A. Controller Says City Could Run Out of Cash by May 5

Los Angeles is in deep trouble. The situation has gotten so grim that the city controller says L.A. to Run Out of Cash in a Month. http://www.bloomberg.com/apps/news?pid= ... ou25UDV1F0

Los Angeles will run out of cash on May 5, city Controller Wendy Greuel said today in a release in which she requested a $90 million transfer of reserve funds to pay bills.

“The question I have been asked most often during the budget crisis is, ‘When will the city run out of money?â€