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Sorry to be so scatological about it, but any hopes that Detroit retirees could live a happy retirement should be flushed down the bowl along with Judge Steven Rhodes of the U.S. Bankruptcy Court for the Eastern District of Michigan. Rhodes said Tuesday that the city could, sure, go ahead and try to erase $18 billion in debt incurred in part by under-funded pensions and health costs. It was OK, the judge decided, for Detroit to file for Chapter 9 bankruptcy protection.


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