Hard hitting global and local news
Continue reading here: Consumer Confidence Plunges Below Any Economist’s Estimate; Consumers Shock Economists
Rauner Seeks Insurance Program Changes for Illinois Retirees; Michigan Changes Upheld in 6-0 State Supreme Court Decision Illinois state pension and retirement plans are in dire straits. The only way to fix the problems is with plan changes
Continue reading here: Florida Becomes 3rd Largest State Following California and Texas, New York Drops to 4th; Political Implications
More: Rick Piltz of Climate Science Watch Has Died
Illinois Has Worst Pension Crisis, Needs Boldest Reforms, Not More Tax Hikes Governor Pat Quinn passed Illinois’ largest tax hike on record immediately after he was elected.
Read the original: Mortgage Loan Originations Lowest Since November 2008, Down 60% Year-Over-Year, Cash Sales Strong
View the original here: General Obligation Bondholders Beware: Detroit Bankruptcy Affirmed, Governor Shielded From Lawsuits; Triumph of Math Over Unions
In an inevitable, anticlimactic decision today, Detroit files for bankruptcy . Detroit became the largest US city to ever file for bankruptcy on Thursday, seeking protection from its creditors as it restructures more than $18bn in debt