07/21/2013 10:34 am ET

Analysis: Why We're Not The Next Detroit


About 280 miles separate Chicago from Detroit, too long for a quick drive but too short for one city’s financial calamity to go unnoticed in the other.

Many investors who buy municipal bonds for tax-free income have similar images of the two cities: upper Midwest, industrial jobs in decline, crime rampant in too many places.

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