Degree of L.A.'s fiscal problems splits mayoral candidates

A virtual unknown straining to make his mark in the race for mayor of Los Angeles offered an alarming assessment of the city's finances. "We are actually on the brink of bankruptcy," Emanuel Pleitez, a tech executive and former aide to Mayor Antonio Villaraigosa, said in a recent debate. "This is not a joke."

By James Rainey, Los Angeles Times

January 18, 2013