Governor Christie calls for state takeover of Atlantic City

Governor Chris Christie has called for a state takeover of Atlantic City, saying the seaside gambling resort is incapable of getting its finances together after years of overspending.

The Republican presidential candidate said at a news conference Tuesday that the state needs to assert control over the city's finances.

Christie stood flanked by Republican Atlantic City Mayor Don Guardian and Democratic Senate President Steve Sweeney. Sweeney introduced a measure for the takeover this month.

The move comes as the cash-strapped city ponders asking the state for permission to declare bankruptcy. The City Council was to discuss a bankruptcy filing Tuesday, but cannot act without state approval.

The struggling seaside gambling resort is still reeling from Christie's veto of a financial aid package, tax appeals from its top casino and the continuing slowdown of its casino industry.