The city of Detroit has just field for bankruptcy.
The once shining star in America is now about 90% Black and a complete welfare state.
Under the leadership of Governor Perv Snyder, the Pig Killing Governor, has led this city to absolute bankruptcy.
This means that Detroit defaults on $20 Billion Dollars of debts while it has over $50 Billion in bonds primarily overseas to support the politicians.
See: CAFR, SEC Form 20 and SEC Form 40 as filed with the SEC last year.
In other words - they could pay off the debtors but refuse - they simply stole the money and the Obama Regime and Gov Perv Snyder of Michigan let it happen.
Welcome to the NEW America.
We will rob you blind.
http://www.freep.com/article/20130718/NEWS01/307180107/Detroit-prepares-file-bankruptcy-soon-Friday
Dr William B. Mount
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