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Stockton, California, to File for Bankruptcy, City Says

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Linked by Bloomberg ( track newsfeed | ignore newsfeed ) - June 27, 05:36AM from (www.bloomberg.com)

By Steven Church and Alison Vekshin - 2012-06-27T08:08:33Z


Stockton, California, said it will file for bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S. city to seek court protection from creditors.
“The city is fiscally insolvent and ...


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