Stockton, California chapter 9 filing - another outlier, or harbinger?

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Stockton, California chapter 9 filing – another outlier, or harbinger?

29.6.12

Meredith Whitney, one of the first financial analysts to foresee the collapse of the housing market, famously predicted in December 2010 that a wave of municipal bond defaults was on the way. The wave, however, has yet to materialize, and the bankruptcy filing of Stockton, California will likely not change this.