San Bernardino, Third Calif City to File for Bankruptcy

California cities are going down one after another, San Bernardino City council gathered a consensus vote to file for bankruptcy on Tuesday, LA Times reports. This marks the second city to file for bankruptcy in less than two weeks, after Stockton (voted on June 26th 2012) and Mammoth Lake (voted on July 2nd 2012). Among the Calif cities, San Bernardino is the second largest with an estimated population of 210,000 (US Consensus 2010), while the biggest one to fall down was Stockton with an approximate count of 292,000 (US Consensus 2010).

Businessweek reports that...