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Defaults

California State Capitol in Sacramento (Justin Sullivan/Getty Images)

Credit Rating Agency Warns Of More California City Bankruptcies, Bond Defaults

One of the nation’s top credit rating agencies will begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults.

08/17/2012

Wells Fargo

Wells Fargo 2Q Profit Leaps; Defaults Drop

Wells Fargo & Co. reported its second-quarter profit rose 30 percent, boosted by a release of reserves set aside to cover souring loans as its customers continued to improve their loan and credit card payments.

CBS San Francisco–07/19/2011

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