Monday, November 22, 2010

Michigan Forbids City of Hamtramck to Seek Bankruptcy; My Advice to Hamtramck: "Default"

Mish's Global Economic Trend Analysis: Michigan Forbids City of Hamtramck to Seek Bankruptcy; My Advice to Hamtramck: "Default":
"No Michigan local government has ever filed for municipal bankruptcy, Stanton said, a rarely used tool that allows cities and other local governments to deal with creditors and extract concessions from its unions."

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