Detroit filing for Chapter 9 Bankruptcy?
Posted in the Minneapolis Forum
Saint Paul, MN
#1 Feb 19, 2013
Review finds Detroit's finances are dire, needs help
Reuters – 27 mins ago...
DETROIT (Reuters)- A team appointed by Michigan Governor Rick Snyder said on Tuesday that the city of Detroit faces a financial emergency and needs help to make difficult decisions.
While the report by the six-member team assembled by the Republican governor in December did not recommend an emergency financial manager, it said the city was in crisis.
"The team collectively believes the city needs assistance in making the difficult decisions necessary to achieve the significant reforms that are so crucial to the city's long-term viability," Michigan Treasurer Andy Dillon, a review team member, said in a statement.
Snyder has up to 30 days to accept or reject the team's findings.
If an emergency manager is appointed, one option would be for Detroit to file for bankruptcy in what would be the largest-ever municipal bankruptcy in the United States. The final decision on whether to file for what is known as Chapter 9 bankruptcy would rest with a group of Michigan state government officials appointed by Snyder.
#2 Feb 19, 2013
Dishonest, anti-unon businessman as "leader" ?? Who'd have thunk it ???
#3 Feb 19, 2013
Dishonest, anti-union businessman as "leader" ?? Who'd have thunk it ???
Saint Paul, MN
#4 Feb 19, 2013
City caving in under the previous government corruption and all too generous union contracts?
#5 Feb 19, 2013
Complaining about contracts ?? Sure, feel free to specify which contracts and tell me why the Governor was so clueless... Keep in mind you lie, so your proof needs to be beyond reproach.
My reading comprehension is obviously better and you "essentially"...
I'd explain a quote to you, but you're a POS liar.
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