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re: Detroit shakes up muni-bond fundamentals
Posted on 6/23/13 at 7:18 am to TrueTiger
Posted on 6/23/13 at 7:18 am to TrueTiger
A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.
1
Posted on 6/23/13 at 10:40 pm to skidry
quote:yep, Washington can print money to pay the bills, Detroit cannot
A very serious consequence to this, IMO, is if local governments lose their ability (our it becomes too costly) to borrow money because of a trend like this, a HUGE amount of power will again be shifted upward toward Washington because that will be the only source of long term funding. That is very bad.
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