Yay for Bridgeport: No longer biggest bankrupt U.S. city

Congratulations are due to the city of Bridgeport, Connecticut - you are no longer America's largest city to seek bankruptcy. That's according to Chicago bankruptcy lawyer Jim Spiotto, after the California city of Stockton voted to file for Chapter 9 bankruptcy this week, in a bid to address its $26 million budget shortfall. Bridgeport filed for bankruptcy itself back in 1991, so has been tainted with the unwanted title of America's largest insolvent city for more than 20 years. But with Stockton now overtaking them, we say it's time for Bridgeport officials to loosen those purse strings and light up some fireworks.