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STOCKTON, CA - JUNE 27:  A pedestrian walks by a Stockton Record newspaper rack displaying the headline "Bankrupt!"  on June 27, 2012 in Stockton, California. Members of the Stockton city council voted 6-1 on Tuesday to adopt a spending plan for operating under Chapter 9 bankruptcy protection following failed talks with bondholders and labor unions failed.  The move will make Stockton the biggest U.S. city to file for bankruptcy protection from creditors.  (Photo by Justin Sullivan/Getty Images) Justin Sullivan / Getty Images