EFM: Snyder to name Detroit emergency financial manager

[GPCharles]

Last I checked, residents of the City of Detroit were able to vote for state representative, state senator and governor.

[Shollin]

Last I checked, residents of the City of Detroit were able to vote for state representative, state senator and governor.

Last I checked state voters voted to repeal the emergency financial manager law.

[Honky Tonk]

Last I checked state voters voted to repeal the emergency financial manager law.

Please feel free to offer me another viable solution, other then handing over more funding that'll never be accounted for.

[Shollin]

Please feel free to offer me another viable solution, other then handing over more funding that'll never be accounted for.

Bankruptcy. Even a federal bankruptcy judge doesn't have as much power as an EFM. I don't understand why an EFM needs to control more than just finances. Besides, it's not like Pontiac or Flint are better off.

[michimoby]

Bankruptcy. Even a federal bankruptcy judge doesn't have as much power as an EFM. I don't understand why an EFM needs to control more than just finances. Besides, it's not like Pontiac or Flint are better off.

You're assuming that Pontiac would be in better shape without an EFM. You're assuming that DPS would be in better shape without an EFM.

The goddamn plane has crashed into the mountain, and what we need is someone to sift through the wreckage and salvage what's left. At the end of the day, though...there was still a plane crash.

[Shollin]

You're assuming that Pontiac would be in better shape without an EFM. You're assuming that DPS would be in better shape without an EFM.

The goddamn plane has crashed into the mountain, and what we need is someone to sift through the wreckage and salvage what's left. At the end of the day, though...there was still a plane crash.

Well gee whiz, what did cities do before this revolutionary EFM law was passed? You think a bankruptcy judge can't sift through the financial carnage? Remember, this manager was appointed to run the finances but in reality it's a dictator with complete control of things other than finances.

[michimoby]

Well gee whiz, what did cities do before this revolutionary EFM law was passed? You think a bankruptcy judge can't sift through the financial carnage? Remember, this manager was appointed to run the finances but in reality it's a dictator with complete control of things other than finances.

To answer your question: I don't know. I don't have any examples of municipalities in Michigan that declared bankruptcy prior to the Act being passed. Someone on this board may.

Here's a core difference that I see, at the onset, between a bankruptcy judge and EFM: a judge has no incentive for reform; he's appointed by an appeals court with little to no attachment to the challenges of reform.

An EFM is going to be put in place by a governor that sees a veritable tire fire burning out of control in his state's largest city. It raises the stakes, and I don't doubt the EFM is going to have some degree of personal, professional, and emotional investment in enacting reform.

[corktownyuppie]

Well gee whiz, what did cities do before this revolutionary EFM law was passed? You think a bankruptcy judge can't sift through the financial carnage? Remember, this manager was appointed to run the finances but in reality it's a dictator with complete control of things other than finances.

A bankruptcy judge can do it. But it will cost 4x as much and could take 10x as long. Either way we're getting a dictator. We can get the cheap one or the expensive one. I'll take the cheap one.