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Oakland Contemplating Bankruptcy

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Over in Oakland, things are so bad that filing for bankruptcy is looking like a realistic option. The Oakland City Council isn't giving up much information, but District 5 council member Ignacio De La Fuente stated that "in closed session, the question has been asked, and an answer was given." It's not an idealistic solution, but they're open to the idea. Right now Oakland's got three choices: fire everyone, reduce everyone's pay, or file for bankruptcy. Things are that bad.