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Stockton, After the Bankruptcy

By Jane Hwang and Suzanne Woolley - 2012-08-24T19:02:51Z

Photograph by Daryl Peveto/LUCEO

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Bad Bets

After years of layoffs, the Police Department has slowly started to hire again. Crime, though, is on a steady rise. Stockton's violent crime and unemployment rates rank among the 10 worst in the country.

During the 1990s, Stockton saw a revitalization of its downtown: a new waterfront park and downtown marina, a new transit center, DeCarli Square, and a new county courthouse. The city borrowed heavily betting on the housing boom. When the market went bust, so did Stockton.

See more Money Gallery slideshows.