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Tag Archives: Chapter 9 bankruptcy

TROTTER: What lessons can be learned from Detroit?

On July 18, Detroit became the largest American city to file for Chapter 9 bankruptcy. A city once having a population of some 1.8 million has whittled down to less than 700,000. What will happen to the pensions of its 20,000-plus retired public employees? There is for sure the distinct possibility they could be reduced substantially or even eliminated. In ...

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