“I believe that Detroit will become the template for future municipal bankruptcies and restructurings. The call to action for these floundering entities will be, ‘Screw the bondholders.'”

It is a relatively easy in concept to stop this abuse of investors—just refuse to purchase these bond issues

http://www.forbes.com/sites/investor/2014/12/11/investors-just-say-no-to-illinois-nj-and-pr-muni-bonds/