[quote=flu]
Yes, yes. I’m familiar with the CURRENT rules regarding only municipalities’ ability to file for the BK…BUT do you folks really believe that rules aren’t going to change? Please, have we not learned yet that government is freely changing these rules as needed? Fine line of definition between “state” and “municipality”… You think there wouldn’t be a way to redefine this, for instance, in a convenient way?[/quote]
Apparently you are not nearly as familiar as you think you are because it’s not a rule, but is the 11th Amendment that immunizes California from bankruptcy courts:
The Judicial power of the United States shall not be construed to extend to any suit in law or equity, commenced or prosecuted against one of the United States by Citizens of another State, or by Citizens or Subjects of any Foreign State.
Per Article V of the U.S Constitution, amending the U.S. Constitution requires 2/3 votes in both Houses of Congress and 3/4 approval by the States.
Thanks for making us all stupider with your post and demonstrating once again that this Onion article is closer to truth than fiction:
