Freep: Sources: Snyder to announce Tuesday whether Detroit will get EFM

[313WX]

48 hours, plus or minus.

Snyder knows that he's opening Pandora box once he appoints an EM over Detroit. There's a reason he's done everything to avoid doing so thus far [[such as him directing the FRB to slow down on submitting its report a month ago). Don't expect him to rush in making the decision.

Terry Stanton, a spokesman for state Treasurer Andy Dillon, who is a member of the review team, said Snyder has 30 days from the day he receives the report to decide whether to appoint an emergency financial manager. The governor has said he will take some time in deciding how to proceed.

What I do expect this week is the City Clowncil and Bingo to rubber stamp more crap to stave off an appointment.

[corktownyuppie]

Snyder knows that he's opening Pandora box once he appoints an EM over Detroit. There's a reason he's done everything to avoid doing so thus far [[such as him directing the FRB to slow down on submitting its report a month ago). Don't expect him to rush in making the decision.

Curious...under what conditions do you think the City Council and Mayor would actually be the ones to be begging Lansing for the EFM? Because I think it's realistic that the Governor might be waiting until it gets to that point.

[313WX]

Snyder knows that he's opening Pandora box once he appoints an EM over Detroit. There's a reason he's done everything to avoid doing so thus far [[such as him directing the FRB to slow down on submitting its report a month ago). Don't expect him to rush in making the decision.

For example, a coalition called Moratorium NOW! just filed another lawsuit against the city of Detroit demanding a release of the city's bond issues and interest rates swaps because they don't trust the state's financial review and would rather someone independent reviews it.

This is just a taste of what the EM and Snyder will have to deal with once he pulls the EM trigger.

[MikeyinBrooklyn]

Detroit is able to solve it's problems. It is unwilling to do it. So now it needs to be imposed. Sad state of affairs, but harsh reality must be faced. And like the economies of the former Soviet Bloc countries, the faster and harsher the changes, the better off we'll all be in the long run.