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Detroit Prepares Bankruptcy

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Without being political (because I know some people here are sensitive about that kind of thing), just wait until the Federal Government has to step in and start covering Muni Bond holders (less no federal, state or local government will ever be able to raise money again for basic infrastructure projects - ie. roads, sewer, water, schools, etc.). When that happens, the banking industry bailout is going to look like it was a picnic...

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California's dissolution of the redevelopment agencies has had impacts to local governments and their ability to fund development projects that would improve tax base and economic growth. I would not be surprised to see others here on the west coast file in the future.

Edited by H0050
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