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Don't Blame The Housing Bust: It Was Unions And Pensions That Killed Stockton

Business Insider
Thursday, 28 June 2012

Don't Blame The Housing Bust: It Was Unions And Pensions That Killed StocktonThe city of Stockton, California, is Bankrupt. It has stopped making bond payments and will become the largest city in the US to seek protection via US bankruptcy law.

The bankruptcy was inevitable.

California law requires blame to be assessed. To be sure there is plenty of blame to go around.

Here are a few paragraphs...
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