Date: November 29th, 2011

Needs must: Part 1, when the devil drives

29 November, 2011 (11:50) | Bankruptcy, Inflation, Investment, Markets, Municipal finance, Rhode Island, Sovereign bankruptcy, Speculation, US News |

By:David A. Smith   Needs must when the devil drives. – Old English proverb   When an enterprise is unsustainable, it goes bankrupt, and in that process settles its obligations for pennies on the dollar, because it has no choice.  That is as true for a nationor a city as it for a business, and […]