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Resource ID: #9407
Subject: City Government
Source: Philadelphia Business Journal



Philadelphia Business Journal reports that the city of Philadelphia made a series of obscure deals during 15 years in which it guaranteed a dozen mostly private loans, some for economic development purposes and others as political favors; now the loans are going bad and the city must foot the bill for as much as $78 million, September - December 1992 and March 1 - 7, 1993.

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