Detroit files for Municipal bankruptcy Chapter 9 - this is a big deal! Corp Democracy hitting the end of the road

 Kevyn Orr put Detroit's 700,000 citizens into municipal bankrupcty today.  

Bond business will never be the same. (I hope)

Read about this titanic issue here at the Washington Post [1].

CleveLAND ohio is in the exact same mold as Detroit.   Lot's of bond dept for bogus stadiums, Medcons, and gateways, and Veterans Hospitals  - bonds held by "investors" from out out state - Bonds sold by the big banks and investment co's and brokered by Wilcox.

Big crime.

Cleveland, get ready to be Detroit.