Some Common Cents for July 19th 2013

July 22, 2013, by John Norris

Late yesterday, a co-worker stuck his head in my office and said: “I sure hope you don’t have any Detroit bonds on the books.” I hadn’t seen that city’s bankruptcy announcement yet, but I assured him we didn’t. You couldn’t have paid me enough to buy any of its debt, at least since we opened Oakworth. As everyone knows, Detroit has been on the proverbial decline for years. Its population topped out in the 1950...

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