Detroit: Pensions or Derivatives? Glass-Steagall Would Have Made …

See on Scoop.itfutureproofmoney

This amount equals 15% of Detroit’s total annual all-source revenues estimated at $1.49 billion this year, and Orr agreed to do it while defaulting on pension bonds. This $225 million is not a debt; rather it represents 75% of …

See on investmentwatchblog.com

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