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October 13, 2011

Harrisburg, PA Files for Bankruptcy 
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Pennsylvania's capital city of Harrisburg has filed for bankruptcy
amidst a long-running debt crisis. The Harrisburg city council approved
the filing, calling it the lone alternative to selling off city assets
to pay Wall Street creditors. Democratic Mayor Linda Thompson has
declared the move illegal after refusing to sign the bankruptcy papers.
If the filing proceeds, Harrisburg would be the largest municipality to
declare bankruptcy since the California town of Vallejo did so in 2008.



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