You know a city is in deep trouble when its mayor invites Wall Street but not the press and not private citizens to a closed meeting to discuss the future, including a sell-off of city assets.
Philadelphia Mayor Michael Nutter, whose municipality has the lowest credit rating of the five most-populous U.S. cities, did just that.
My translation: Philadelphia is bankrupt. However, that easily discernible fact will of course be denied until it officially happens.
Please consider Philadelphia Holds Closed Meeting With Wall Street
Philadelphia Mayor Michael Nutter,...