A federal judge has ruled that Stockton, California will be allowed to enter bankruptcy. The city, located near San Francisco and home to 300,000, is the largest yet in the US to file for bankruptcy, marking a new low point in a trend sweeping California.
US Bankruptcy Judge Christopher Klein ruled Monday that Stockton would be allowed to begin reorganizing its debt in order to continue carrying out “its obligations to its citizens on fundamental public safety as well as other basic government services.” Continue reading “California city becomes America’s largest, latest to enter bankruptcy”

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