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Accountability and transparency standards must be strengthened as well as lending practices monitored as opposed to the borrow now and cross your fingers later approach to lending. If we start down this road, multiple municipalities, creditors, etc. Detroit files for largest municipal bankruptcy in US history. Retrieved from [link].
Today, taking into account the twists and turns in the PSPA described above, Treasury holds warrants on 79.9 percent of the common stock of each of F&F and also owns senior preferred stock with a face value (technically known as the “preference”) of $341.0
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