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Next Steps in Stockton Will Be Widely Watched
The Sacramento Bee 
[Opinion] Apr. 5, 2013
"If the city presents a plan of adjustment that does not include reductions to CalPERS, the city's other creditors are likely to appeal. So, the real question being asked in Stockton -- the one that Wall Street, public employee unions, and cash-strapped municipal governments across the country want answered -- is: Can public employee pensions be cut when a city goes bankrupt?"
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