Her campaign said in a statement the case had involved bankruptcy principles and that retirees' benefits were not in jeopardy.

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As is usually the case with a statement by Mr Brown, most of them had been announced or trailed before.

ECONOMIST: Go forth and multiply

Debevoise also said he would allocate roughly two days for both sides to present their sentencing arguments, take a brief recess to write his own statement on the case, and then pronounce the sentences.

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