http://www.freep.com/article/2013072...-lawsuit-judge Rhodes will decide. Based on other rulings its not looking good for the pension people.
And ZH facts are true,but they failed to mention of the 305,000 residents property owners in Detroit,47% don't pay or can't pay their property taxes,which is a basis for pensions in the city.
As for munis general obligation bonds the market is not affected. Only 2 out of 10 in the multistate muni exchange traded funds had exposure to Detroit's debt.PVI and PZA.