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1 posted on 05/25/2010 7:41:53 AM PDT by SmithL
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To: SmithL

Chapter 9 bankruptcy is available to municipalities (sub-units of a state) but not to a state government itself. That is the one sure fire way to break these contracts and rationalize these out of control benefit packages. But very few local governments have the courage to take that step.


2 posted on 05/25/2010 7:56:47 AM PDT by Wally_Kalbacken
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