America Breaking News: Detroit Bankruptcy May Alter Distressed U.S. City Behavior

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America Breaking News: Detroit Bankruptcy May Alter Distressed U.S. City Behavior

America Breaking News: Detroit Bankruptcy May Alter Distressed U.S. City Behavior
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America Breaking News: Detroit Bankruptcy May Alter Distressed U.S. City Behavior

by Wochit 1:11 mins

Moody's Investors Service said Detroit's filing for bankruptcy protection is "profoundly meaningful" for the small number of local governments in the United States that are below investment grade, and could change their approach to pensions and other long-term liabilities. Attorney General Eric Holder said in a letter dated July 23rd to his Russian counterpart this week that self-proclaimed NSA leaker Edward Snowden would not face the death penalty if he were sent home.Holder also said Snowden would not be tortured and would have all the protections of the U.S. civilian court if he were to come home from the Moscow airport where he has been hiding out. At the beginning of July, U.S. oil topped $100 a barrel for the first time this year, and it hasn't gone back below that threshold since. And at the pump, drivers are paying more for gasoline, at an average of $3.66 a gallon versus $3.48 a year ago and $3.57 a month ago. But Citigroup analyst Ed Morse, expects gas prices to stabilize and start dropping soon.

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