It's official. A judge has ruled that Detroit is indeed insolvent, which not only has grave implications for that city's bondholders, but for municipal bondholders everywhere. Even that, however, only hints at what's to come. The ripple effects of allowing Detroit to file for bankruptcy
- The Detroit Bankruptcy Is Official - Now Get Ready for "Bailout Bonanza"
- What the Detroit Bankruptcy Means for Municipal Bonds
Now that Detroit is officially bankrupt, investors have one more reason to dump municipal bonds. Here’s why they should think twice before they do. Read more...