The Stockton City Council listens to statements from citizens Tuesday, June 26, 2012, in Stockton, Calif. Stockton officials continue to grapple with the city's financial plight, struggling to ... more 
The Stockton City Council listens to statements from citizens Tuesday, June 26, 2012, in Stockton, Calif. Stockton officials continue to grapple with the city's financial plight, struggling to restructure millions of dollars of debt threatening to turn the city with the nation's second highest foreclosure rate into the largest American city to file for bankruptcy. (AP Photo/Ben Margot) less 
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Associated Press | Photo By Ben Margot
Tue, Jun 26, 2012 11:27 PM EDT