by Mike ‘Mish’ Shedlock
On December 10, 2014 the city of Detroit exited bankruptcy.
It was the largest municipal bankruptcy in US history.
The bondholders were totally screwed in favor of the pensioners (not that I generally like bondholders).
Regardless, everything was supposed to be fixed. It wasn’t.
Please consider Detroit Picks Firm to Help Fix $195M Pension Shortfall.