Can El Paso Go Bankrupt?

I mean, we’re not like other towns. We have assets. We own real estate. The Public Service Board (that’s the most sinister name for a public entity since Stalin ruled the USSR) owns hundreds of acres of land. If we got in a pinch, couldn’t we just sell some land? Probably at a discount, because we’ll really need the money. I’m sure some of the local developers could . . . .

Oh. I get it now.

Of course, there could be some legal obstacles to the PSB laying off a bunch of land to some cagey developers, but illegal never stopped the City before. Illegal is a niggling detail. The City can handle it.

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