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NoOneMan

(4,795 posts)

1. "who is actually going to get hurt by a failure of Detroit to pay its debts"

Reply to HardTimes99 (Original post)

Sat Jul 20, 2013, 09:57 PM

Jul 2013

Anyone who is a creditor, which is anyone they owe money to. Maybe some ma and pop road construction company (yes, those exist), or pensioners. The very fact they have debt means there are people & companies who won't get paid what they were promised. Bankruptcy sucks to people on the other end.

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Highlight:

Questions About Detroit's Bankruptcy: [View all] HardTimes99 Jul 2013 OP

"who is actually going to get hurt by a failure of Detroit to pay its debts" NoOneMan Jul 2013 #1

Are pensioners 'creditors' the way investors who buy bonds are? HardTimes99 Jul 2013 #2

Anyone with a valid debt should be able to claim to be a creditor NoOneMan Jul 2013 #3

No, they are unsecured creditors. kwassa Jul 2013 #4

That really pisses me off - nt HardTimes99 Jul 2013 #5

By investors, do you mean bond holders? NoOneMan Jul 2013 #6

Exactly. Water and sewer bondholders. kwassa Jul 2013 #7

Capital vs Labor NoOneMan Jul 2013 #8