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Bankrupt States Could Trim Pensions |
January 25, 2011
Under existing law, a state cannot go bankrupt. There's no provision for it -- yet -- under bankruptcy law.Now lawyers, politicians and other ingenious folk are looking for a way around that problem -- a fact that should come as no surprise, given the perilous financial health of California, Illinois and other states encumbered with crushing debts.
http://feeds.abcnews.com/click.phdo?i=900666f3b24e7b5db50bd9b88259d801
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