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A man walks past empty stores in the deserted Carousel shopping mall in San Bernardino, California. he city of about 210,000, some 65 miles east of Los Angeles, filed for bankruptcy on August 1, joining the Bay Area city of Stockton as a test case for whether financially troubled municipalities can shed bond payments and possibly pension obligations via bankruptcy court.

( Lucy Nicholson/Reuters / November 14, 2012 )

A man walks past empty stores in the deserted Carousel shopping mall in San Bernardino, California. he city of about 210,000, some 65 miles east of Los Angeles, filed for bankruptcy on August 1, joining the Bay Area city of Stockton as a test case for whether financially troubled municipalities can shed bond payments and possibly pension obligations via bankruptcy court.

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