Banking analyst Meredith Whitney says the effects of Detroit’s - TopicsExpress

Banking analyst Meredith Whitney says the effects of Detroit’s declaration of bankruptcy last week on the multi-trillion dollar U.S. municipal bond markets will be “staggering.” Whitney tells the Financial Times that the fiscal structure of America’s cities is unsustainable and that “there are five more towns like Detroit in Michigan alone.” Detroit’s bankruptcy declaration “should not be regarded as a one-off,” she said.

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