Sep 10, 2014
Just when it looked like the fun was about to begin, Detroit's noisiest and perhaps most obnoxious creditor, bond insurer Syncora agreed to a settlement. It's clearly a case of the squeeky wheel getting the oil. Initally they were slated to lose $400 million, most of it going to keep the insolvent Detroit pension fund paying out to retirees. Now, they will lose much less and the bankruptcy will move ahead much faster, everybody's a winner, right?
The famous Lion's Share slot machine at Vegas's MGM Grand Casino finally paid off after 20 years. The lucky winners took down $2.4 million dollars and will get to keep the lucky machine. If only it had paid off at the Liberty Mastermind Symposium, yours truly would not be writing this column now.
More of the day's latest news discussed herein.