I work in Newport Beach, a beautiful California community of shamelessly rich people. The dirty little secret is that many of residents are behind in their mortgage payments, and their big houses are "upside side." There has always been a local legend that looking good in Newport Beach is the ultimate goal, even before having the goods, or being good. That idea might just be the "sour grapes" attitude of covetous people like me. Still, the "high roller" with nothing but a rented Lamborghini for the weekend has been seen on the streets.
The City just announced that it will cut the City Attorney's staff in half, and farm out its legal work to private firms to save money. The City Attorney decided to resign rather than manage the farmed out work. Newport Beach is short on cash. We have all heard some frightening economic news in the last 4 years, or even in the last 4 days. Yet, to read this morning that Newport Beach is filling the pinch, well, that has a "fright factor" all its own. One never knows what is happening behind closed coffers.