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California District Moves Closer to Insolvency, Earns BBB-Minus Rating

Libertarian pragmatist Wrote: Sep 08, 2012 9:09 AM
Inglewood is 45% black and 52% Hispanic. With all of the moochers around, no wonder they are broke.
kenneth416 Wrote: Sep 08, 2012 11:55 AM
If the racial make up of Inglewood is as described by Libertarian pragmatist (i.e., 45% African-American, 52% Hispanic, and 3% other), I see little hope, short of bankruptcy. The racial make-up almost guarantees low average income, low average educational attainment, and high government dependency, a perfect recipe for disaster. How did we get ourselves into such a pickle?
The Inglewood, California school district has slipped closer to financial ruin now that S&P has downgraded its credit rating to BBB-minus.

The credit agency stated that the district could improve its status if it gets spending under control and accepts a $55 million bailout from the state. It also said the rating could worsen if the school board doesn’t act quickly.

But nobody should hold their breath waiting for the school board to take positive action. News reports indicate the board may turn down the state bailout out of fear of losing local control of the district....