As San Bernardino became the third California city to file for municipal bankruptcy within one moth, Micheal Sweet appeared on the Lang and O'Leary Exchange to discuss the reasons so many U.S. cities are struggling.

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San Bernardino County is now considering a plan to use eminent domain to restructure mortgages that are underwater. If the proposed plan is enforced, many investors could face significant losses if their loans are seized. Michael A. Sweet discussed San Bernardino County’s financial situation with American Banker..

San Bernardino County is now considering a plan to use eminent domain to restructure mortgages that are underwater. If the proposed plan is enforced, many investors could face significant losses if their loans are seized. Michael A. Sweet discussed San Bernardino County’s financial situation with American Banker..