Moody's Investors Service for the third time this year downgraded Detroit Wednesday, warning that a razor-thin cash cushion, political instability, and the recent overturn of the state's emergency management are pushing the city closer to bankruptcy or default.
Moody's Hits Detroit with Third Downgrade
NOV 28, 2012 9:46pm ET
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Land isn't the only thing drying up in California, as the drought's economic impacts are dangerously closing in on the state's financial resources.
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