With the recent news of Detroit filing for bankruptcy it certainly raises the questions of borrowing money from banks. Will this increase the cost of borrowing for other cities? Ed Butowsky, wealth manager, financial advisor, and managing partner of Chapwood Investment Management, joins Fox Business Varney & Company to discuss how this news with Detroit can and will increase borrowing costs.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
Tags: banks, detroit bankruptcy, ed butowsky, financial advisor, fox business, loans, money, wealth manager