[cripplecreek]

And then take a gander at this thread. Detroit is a mere canary in the coalmine.

The NEXT 10 City Pensions That Will Run Out Of Money (Old article relevant to Detroit's Bankruptcy)

[taildragger]

Thanks CC, saw it earlier today, Chicago getting a 3 notch downgrade yesterday was brutal, not enough airplay on that IMHO. I have to review that list, many are those I supected would be on it, others no. The question begs, how many of those are Democrat / Big Union Machine old city models. My guess is most of them, I need to research them...

BTW, this maybe the revenge of Meredith Whitney and her Muni Bond call, maybe all along she was hinting not at insolvency but the Corruption that is causing it, but it was to Un-PC to say so.

I am seeing on the web that the investigation into Detroit's Pension is on-going and I wonder what Corruption, Theft, and or other ailments they will find, and could this Chapter 9 be a move because a great deal of bad things did happen and they will be a shocker?

Tangent to this, are those 12 cities also in that boat where things have gone on with the pensions that might have some folks in chrome braclets?

Time will tell...