A list of potential defaulters.
By Deepak Chitnis
WASHINGTON, DC: The financial situation in Detroit took an ugly turn last week when it officially filed for bankruptcy protection, in order to stem the attacks from creditors looking for reimbursement for loans that the city was simply unable to pay off in full.
Detroit’s economic downfall was only a matter of time; many analysts predicted that such a drastic step would have to be taken eventually. While experts now debate what Detroit’s next step should be, here are some other cities that may soon find themselves in similar trouble if they are unable to solve their financial problems:
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