Scranton is Broke

Unless you have been living in a closet or under a rock for the last few weeks, chances are you've already heard about the growing financial problems in the City of Scranton.  Scranton is broke.  And now there is a blog about it by the same name....

http://scrantonisbroke.blogspot.com
The city's finances are in question. Chapter 9 is the answer.

Gary Lewis, a Scranton resident, is the author of this blog.  He has specialized qualifications that help translate what the numbers mean to the blog's readers. He's a consultant who has worked with complex accounting for distressed assets with a focus on Banking Industry mergers and acquisitions.  Since 2009, he works primarily on the closure or consolidation of failed banks. -- From the About


A petition has been started today asking Scranton City Council and the Mayor to declare Chapter 9 bankruptcy.  There are only 2 signatures right now, but I'm sure more will appear as time goes on.  If you are interested in signing it, follow this link:  http://www.change.org/petitions/city-of-scranton-file-for-chapter-9-bankruptcy-protection.

"It's time to take steps to actually "Restore the Pride" and not simply pay lip service to a great idea."

Thank you to tipster @GlobalScranton for tweeting about this blog!

~Michelle

08/06/12 UPDATE:  Harold recently stopped at 62 South Franklin Street to pre-record a few segments of the Blog of the Week when we learned by accident that the Scranton is Broke blog was closed.  You can read the post here.  This post refers us to Gary's other blog located at consolidatediza.wordpress.com.  Look for an upcoming post about this blog soon!