Will the Village of Skokie become bankrupt?

Can the Village of Skokie become another Enron? Most people would assume that’s impossible. Well, think again. Westfall Township in Pennsylvania is a perfect example. Ernest Hemingway wrote once "How did you go bankrupt?" -"Two ways. Gradually, then suddenly."

Westfall Township Files for Bankruptcy
April, 15 2009 WNEP-TV Channel 16
http://www.wnep.com/news/countybycounty/wnep-westfall-township-files-for-bankruptcy,0,4660471.story

excerpt: http://pikecountypress.com/wordpress/tag/westfall/

“Now, we’re going to be paying it strictly through property taxes,”

“But please, don’t touch my income. I just can’t afford to pay any more.”

Though it is not common for a government entity to declare bankruptcy, it is not unprecedented. Orange County, Calif., declared bankruptcy in 1994 after losing $1.7 billion in taxpayer money on risky Wall Street investments. Nevertheless, at the very least serious reviews should be made into preventing such costly damages to Skokie residents.

Once again that is why full, open & accessible transparency of Village of Skokie is so important. Public information should be easily accessible via online with a few mouse clicks. When I first moved to Skokie from Chicago in 2005 I told my friend and landord to buy gold. She said she would think about it. Many years later she recollocts how I told her that bit of small advice. My assumption being gold would be a superior arbitrage differential between inflation and "perhaps" deflation. In any regards, since she's a home owner I would leave her with this small humble advice:

Skokie + 10 years = Enron.

All Skokie citizenry should expect, demand & require only the highest caliber of patriotism, work ethic dedication & moral commitment openly expressed through ones day to day convictions that reflect ones actions. In other words, public service is a 24 hours a day & 7 days a week job requiring no less. Don't talk the talk but walk the walk.

Having the streets & parks become littered with garbage is very symbolic. Especially in these dire, precarious & unpredictable economic times. Honestly through transparency. Like the 1990's saying goes "it's the economy stupid".

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Additional information:

Debtor Name: Westfall Township
Year Filed: 2009
Jurisdiction: United States Bankruptcy Court / Middle District of Pennsylvania
Asset Size: Less than 10,000,000
Case Number: 09-02736
Industry: Government