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Stockton could become biggest city to go bankrupt

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Posted: Wednesday, February 29, 2012 12:00 am

The city of Stockton has the second-highest foreclosure rate in the nation and one of the highest crime and unemployment rates. It was named America's most miserable city in a national magazine — twice.

And now, officials say this city of 290,000 is on the brink of insolvency and could become the nation's largest city to fall into Chapter 9 bankruptcy protection.

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