Legal money laundering DWSD

[Willi]

My book, ie. my head is screwed on just right.
JUNK bonds are a non-investment grade bond, by any brokers definition.
They have a very HIGH default risk, they are HIGHLY speculative.
A default due to bankruptcy - kills the bonds value entirely

Syner pulled a fast one on ALL the residents of this state.

http://bridgemi.com/2014/07/
""After Detroit exits bankruptcy,
a State Financial Review Commission will have authority
to approve the mayor and council’s four-year budgets,
approve sizeable contracts, approve collective bargaining agreements
and report to the governor twice a year for the next 13 years.
--This powerful, nine-member commission, created as part of a
“grand bargain” with state leaders, is intended to protect nearly
$200 million in state funding to Detroit by ensuring that
city leaders budget money responsibly.
--But experts say the commission’s credibility and effectiveness
could be blunted if it’s perceived as blocking the ability of
Detroit’s democratically elected officials to run the city.
--If not handled delicately, these experts say, the commission
could face the same old political fighting
that has scared away residents,
businesses and progress.""