Monday, December 22, 2014

East Cleveland mulls over filing bankruptcy

While the cities of Detroit and Stockton, California made headlines a couple of years ago for being the first major municipalities to file for bankruptcy protection, the next one in America may be just around the corner.  On Dec. 11, members of East Cleveland’s city council publicly talked about the potential for the Ohio municipality to have to file bankruptcy because the Cleveland suburb is pretty much insolvent.

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