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04 August 2011


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John Protevi

Thanks! Here's the lede to the post dmf links above:

Central Falls, Rhode Island a proud and historic place whose motto is “city with a bright future” took the rare step this week, for a municipality –- of filing for bankruptcy.

The city hasn’t been paying its pensions for years — and doesn’t plan to do so. The public employees have been told: get a lawyer.

How Central Falls became a city with a troubled future may be an object lesson for may other municipalities around the country who are in dire straits.

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