Tag Archives: Controversy in Detroit: What’s A Fair Settlement Of Bondholder And Pension Obligation Claims?

Mish/ Mike Shedlock – Controversy in Detroit: What’s a Fair Settlement of Bondholder and Pension Obligation Claims? – 4 February 2014

MishMikeShedlockA huge battle between pensioners and bondholders is on. Last week, a Bond rating agency blasted Governor Rick Snyder’s $350-million Detroit pension rescue plan as being too favorable to creditors at the expense of bondholders.

Today, the New York Times reports Detroit Turns Bankruptcy Into Challenge of Banks. Continue reading