From: Mike Krauss <mike@publicbankinginstitute.
Date: Tue, Aug 6, 2013 at 5:15 PM
Subject: The Detroit Bail In: Fleecing Pensioners to Save the Banks
To: Mike Krauss <email@example.com>
Meanwhile, the municipal workers, whose pensions are theoretically protected under the Michigan Constitution, are classified as “unsecured” claimants who will get the scraps after the secured creditors put in their claims. The banking casino, it seems, trumps even the state constitution. The banks win and the workers lose once again.