Rhode Island City Goes Bankrupt

Written By: John Hayward  |  Posted: Thursday, September 29th, 2011

Government bankruptcy is ugly when it can no longer be denied.

            Many local governments around the country are in bad shape, but few are worse than Central Falls, Rhode Island.  The city was already in receivership, which led to a bleak, but comical scene in which the state police confiscated the mayor's car, cell phone, and keys to City Hall.

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