Detroit asks judge to approve $350M d...

Detroit asks judge to approve $350M debt deal

There are 2 comments on the Detroit Free Press story from Nov 5, 2013, titled Detroit asks judge to approve $350M debt deal. In it, Detroit Free Press reports that:

The city of Detroit has asked a federal judge to approve a deal to borrow up to $350 million to pay off an interest-rate transaction from 2005 and to improve city services.

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reality is a crutch

Nashua, NH

#1 Nov 6, 2013
And whom is going to repay this debt?

Welfare queens, black drug dealers and illegal immigrants which make up most of the population of Detroit don't pay taxes.

and who else is still in town to repay this debt??

Can't wait to hear the answer to this question...
Pete

Livonia, MI

#2 Nov 6, 2013
reality is a crutch wrote:
And whom is going to repay this debt?
Welfare queens, black drug dealers and illegal immigrants which make up most of the population of Detroit don't pay taxes.
and who else is still in town to repay this debt??
Can't wait to hear the answer to this question...
The city is not without resources. They still collect substantial casino revenues to mention one source. Those would be pledged to meet this new obligation. It's much like refinancing a home loan. The city gets to exchange a 6% note for something costing far less, as low as 3.5%. That saves money. You can be fairly certain Barclay's has studied the situation and assured themselves that repayment will happen.

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