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Mon, Jun 25, 2012
Stockton Faces Deadline on Bankruptcy
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Courtesy Inman News/Flickr
A foreclosed home in Stockton, California
Today is the deadline for Stockton to ink a deal with 18 major creditors to avoid municipal bankruptcy. Stockton would be the largest city ever to file for bankruptcy in the U.S., if it comes to that.
And it may well, according to Scott Smith, City Hall reporter for the Stockton Record. How did Stockton get itself into this fix in the first place?
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