New Orleans Bankrupt

The City of New Orleans has no money to meet its expenses, Mayor C. Ray Nagin told a meeting of elected officials.

"The city is bankrupt, the last payroll was the last cash we had," said Nagin, looking and sounding exhausted. "We have no money. ... I can't even make payroll for my police and fire [personnel]."

"Technically, today we are out of cash. By hook or by crook, we are going to pay our employees until the end of the year," he said. "Then we are going to try to figure out what we can afford. That's the intention."

Well, the "hook or crook" analogy is apt.
Nagin spent too much money on his police force's free trips to Vegas!