Originally Posted by
MikeyinBrooklyn
The city owns a lot of tangible things: land, buildings, artwork, etc. It owes MUCH more money than it can possibly pay back in cash. So, the city will lose some of those assets, with or without bankruptcy. If the city sells some of it's stuff on it's own, it will have some say in what gets liquidated. If bankruptcy happens, a judge will make those decisions. What Benny Napoleon or anyone else running for office thinks, stupid or not, is pretty irrelevant. Liquidation of assets will begin sooner rather than later. Also, it should be noticed, the city is not legally capable of sheltering assets at this point. Everything it owns would need court or ECM clearance to be sold. The city could have sold DIA and contents outright some time ago to a non-profit, but no longer. That art will be in limbo until sold or the city is out of debt. Shame on all of us for getting into that situation. We willfully elected the people that got Detroit in this situation, and kept reelecting them. Unchallenged, openly corrupt, liberal power for more than half a century makes hard for us to have nice things.