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Stockton to Become Largest US City in Bankruptcy

Source: Associated Press - on June 27, 2012

News video: Stockton to Become Largest US City in BankruptcyIn opting to become the nation's largest city to seek federal bankruptcy protection, Stockton, California took a rare financial step of last resort after struggling with the economic downturn, soaring pension costs and contractual obligations. (June 27)

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