From the Wall Street Journal

Detroit to Sell Municipal Bonds as State Considers Takeover of City Detroit is likely to have to pay dearly this week to sell $493 million of water and sewer debt in the municipal bond market, just as Governor Rick Snyder is deciding whether to appoint an independent receiver to take over the city's finances, Dow Jones Newswires reported yesterday. Moody's Investors Service put some of Detroit's bonds on review for downgrade last week, saying that the possible appointment of an "emergency financial manager" over the city would increase the risk that the city would file for bankruptcy. The ratings firm added that since Detroit's water and sewer utility is city owned, it may not be "completely immune" to the risks associated with a bankruptcy filing, if one were to happen. Michigan started a preliminary review of Detroit's finances on Dec. 6, and that review could last as long as 30 days, said Terry Stanton, a spokesman for the state Treasury. If the review finds "probable financial stress" in Detroit, the governor would name a team to further review its financial condition. If that team finds a "financial emergency" exists, an emergency manager would be appointed, he said.

See, the nigs needs tah fix day plummin and sheeit. But day ain' gots no funds what fo' tah do it wit. So he'p a bruthuh out an buy suma deze here bonds. Day gonna pay intres' at 20%!! Now where else you gonna earn that kind of return on yo' money?