Stockton Files for Bankruptcy

Stockton has "cut off an arm to save the body" — stopped bond payments, slashed employee benefits and adopted a "survival budget." It's now officially the largest American city to go bankrupt. Will others follow? What's the impact on the statewide economy? Also, a measure to ban hydraulic fracturing, or fracking, by oil companies in California has passed another legislative committee. Are the fears of environmentalists and others justified? Why doesn't the state demand more transparency? On our rebroadcast of today's To the Point, Mexico's drug war and Sunday's presidential election.

Banner image: Stockton's city center and waterfront. Photo by Montyofarabia/flickr