I think it is a foregone conclusion that Detroit will have to file for bankruptcy via the state. The reason why no one wants bankruptcy is that every city, town, county in the state will be on the hook to bail out the 18th largest city in the United States when that happens. A EM can cut and cut and cut and cut but.....as long as no money is coming in and the EM will need to spend money to operate the city, Detroit will never get out of the hole.
Bookmarks