Growing number of cities in US declare bankruptcy
By Agencies in San Bernardino, California | China Daily | Updated: 2012-07-31 07:55
A spate of defaults has occurred in municipalities all over the country
The city of San Bernardino, California, declared bankruptcy on July 10, following similar moves in the past month by Mammoth Lakes and Stockton, also in California.
A fourth city, Compton, on the outskirts of Los Angeles, could be the next city to turn to bankruptcy protection.
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