City of Detroit Finances

Ronald Bernardi was quoted in the 5/16/13 issue of InvestmentNews regarding bonds issued by the City of Detroit.

“For several years, Detroit’s finances have been below average,” said Ronald Bernardi, a municipal bond trader and president of Bernardi Securities, Inc. “In recent years, they’ve been issuing debt just to pay their operating costs. Anyone that is invested in Detroit the last several years has been investing in junk credit.”

Read Full Article (InvestmentNews site registration required)