Revelation 6:3-4 NCV When the Lamb opened the second seal, I heard the second living creature say, "Come!" Then another horse came out, a red one. Its rider was given power to take away peace (prosperity, rest) from the earth and to make people kill each other (butcher, slaughter, to maim violently, in streets), and he was given a big sword (assassins sword, terrorist, loud, mighty, sore afraid).
The city of Detroit, Michigan is about to default on almost $2.5 billion in debt and is asking the city’s creditors to take ten cents for every dollar they’re owed by the city.
State-appointed emergency manager Kevyn Orr has been spending hours with around 180 creditors in an attempt to keep the city from entering bankruptcy. If it cannot be avoided, it would be the largest municipal bankruptcy in United States history.
Claims to underfunded pensions for retired workers would likely only get 10 cents on the dollar for their pensions.
Orr stated that Detroit would not pay unsecured debt to “conserve cash” for police, fire and other city services. He said the chance of bankruptcy for the city is 50-50.
Your are doing an EXCELLENT JOB of keeping us INFROMED …. THANK YOU.