The city’s vigorous response to Wall Street’s greedy and self-serving objections to Stockton’s bankruptcy filing deserves our praise. The toothiest sharks the Street could sic on the city concocted a picture of a city attempting to take the easy route. Only a lawyer or Walt Disney could create such an alternate universe.
City Manager Bob Deis kept it real in a press release.
“While claiming that the City should institute further reductions of existing services and with no further investment in public safety, these same experts base their assumptions and recommendations on Stockton voters approving a total of four new tax measures: a sales tax, a utility users tax, a transient occupancy tax, and a parcel tax – all to provide revenues to pay them.”
That’s preposterous. Deis and outside counsel are staunchly defending our interests. Where’s the mayor on this? Haven’t heard from him.