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Archive for August 1st, 2012

01 Aug

California city files for bankruptcy with over $1 billion in debts

LOS ANGELES (Reuters) - San Bernardino filed for bankruptcy protection on Wednesday citing more than $1 billion of debts and making it the third California city to seek protection from creditors. The city of about 210,000 residents 65 miles east of Los Angeles declared a fiscal crisis last month after a report said local government [...]

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