Stockton To File For Bankruptcy, Will Be Largest U.s. City To Fail

Bankrupt Stockton

The Stockton City Council halts bond payments, slashes employee benefits and adopts an emergency budget as mediation ends. The Central Valley city becomes the largest in the U.S. to seek bankruptcy protection.STOCKTON — This Gold Rush-era port city, an epicenter of California's agricultural exports, will become the nation's largest city to seek protection under the U.S.

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Topics:  bankrupt city   bankruptcy   california   cities   stockton   
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