Is bankruptcy an option?

Mayor Antonio Villaraigosa and the City Council have said repeatedly that, come what may, declaring Los Angeles bankrupt is not an option.Daily News.

But with city leaders avoiding the tough decisions to mend L.A.'s financial health - opting instead for easy fixes that allow the city to limp along for another month or two - some are saying bankruptcy is just the ticket.

For one thing, it could lead to speedier reform of the pension system, which many economists and politicians say is necessary if the city is to prosper long term.