Reuters Insider MuniLand
A Lifeline for Detroit, Puerto Rico Meets with Fed
Rhonda Schaffler from Reuters Insider MuniLand recently interviewed Jim Spiotto on Detroit's bankruptcy trial. Jim clarified that Chapter 9 bankruptcy does not eliminate debt, but rather it adjusts debt so that it may be paid sufficiently and recovery can be sustained long-term. He also noted that a goal of Chapter 9 is to allow the municipality to reinvest in itself through maintaining essential services, infrastructure, and job creation that drive tax revenue.
Click here to watch the full interview on Reuters Insider MuniLand.