Thursday, July 18, 2013

Detroit Files Bankruptcy

Well they did it. Not surprising, but sad. There are going to be serious ramifications even for people who don't own municipal bonds.

2 comments:

  1. Sad?? That's all you have to say? How about criminal? Duplicitous? Greedy? The end result of socialism? Like Maggie Thatcher said, at some point you run out of other people's money. Poster-child? - Detroit. So many feasting at the trough filled with other people's money. When will people learn that government is first and foremost bloodsucking.

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  2. Of course it's not surprising - Governor Snyder appointed a bankruptcy guy and then, to everyone's shock, instead of working things out he recommended bankruptcy. It's the little people who will lose in all of this - if they liquidate the DIA the money won't be going to pensioners, that's for sure! (God grant me to be wrong!)

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