I believe it is safe to assume that the only people who are prospering from “safe” investments in Detroit, San Bernardino, Stockton, Jefferson County, Central Falls, and many other cities across America are investment brokers, and attorneys. What do these municipalities have in common? Their leaders followed the advice of financial “experts” and made bad decisions. From all accounts these bureaucrats and elected officials acted within the regulatory guidelines.
Just because it is legal that doesn’t mean it is smart!