I had the radio on the background this morning, and heard the same statement made, 10 cents on the dollar. I was only half listening to it...but my impression was the reporter was more speculating with that number rather than give acutual facts. What does bother me, is that not that long ago...maybe 6 months ago...someone was touting Detroit's bonds, saying Detroit was better off than the credit rating implied. I don't recall if this was on tv, or a magazine or newspaper article. But I wouldn't be surprised if it came from someone that was hoping to unload.
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