29 July 2013

It Could Be Worse

Lots of posts about Detroit and its bankruptcy (here, here, and here for some examples). Anyone who found those interesting (or tedious, it doesn't much matter) might want to look at my observations about a museum bankruptcy over at The Faculty Lounge. In short--and I mean very short--bondholders in this Nebraska case will get 0.0025% of their claims. And will be happy enough for even that.

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