LOS ANGELES — The factors that pushed Stockton, Calif. and San Bernardino, Calif. into Chapter 9 bankruptcy are not as unique as some bond professionals would like to believe, according to Mark Kaufman, a partner with McKenna Long & Aldridge.

Kaufman and other panelists discussing municipal bankruptcy and fiscal distress at The Bond Buyer’s California Public Finance conference here last week said the potential exists for more bankruptcies to occur, creating a much broader problem for bondholders.

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