Detroit is more than a sideshow. What’s at stake here is bigger than most investors realize. It could take a Supreme Court decision to determine the viability of many municipal bonds.
In 2010 Meredith Whitney made an earth shattering statement during a CBS’s “60 Minutes” interview that rocked the municipal bond investment world.
“There is not a doubt in my mind that you will see a spate of municipal-bond defaults,”said Meredith …
