According to today’s NY Times, I spent part of my time in Enron-by-the-Sea, which is what the paper has annointed San Diego. Much to the satisfaction of perennially SD-skeptical San Diego Reader columnist Don Bauder, the Times is catching up on how utterly botched city finances are in the city of San Diego.
So, is it Enron-esque? While there are some allegations of untoward behavior, and corruption in San Diego does periodically reach J.G. Ballard-ish strangeness, it’s mostly that San Diego, like so many regions and companies, financially over-promised during the boom-times of the late 1990s and is now facing up to rapidly escalating liabilities, numbers that it almost certainly cannot pay.