Skip to comments.Detroit to go bankrupt in less than a month [Heckuva job with that bailout, Barry]
Posted on 11/22/2012 6:32:47 AM PST by SoFloFreeper
The city of Detroit, facing a serious cash crisis, is set to go bankrupt by the end of this year and would put city workers on furlough unless it strikes a deal with the city council that would bring in $30 million before Dec. 14.
Detroit has been in financial turmoil for years, losing a quarter of its population in the past decade and facing a shrinking auto industry that has reduced tax revenues. The Detroit City Council gave the mayor the option to hire a financial advisor and in return receive $30 million by the end of the year.
But the Council on Tuesday voted 8-1 to delay the decision on the deal, which would pay the Miller Canfield Law Firm $300,000 to advise Mayor Dave Bing. The deal would have released $10 million in bond money on Tuesday and another $20 million in December.
(Excerpt) Read more at rt.com ...
They need to bulldoze the joint and give it back to the indians. They can build a another sacred casino there. Problem solved. Lots of union jobs.
Not really. There’s always more of other people’s money where it came from. They just lost their first share of it, Hussein will be more than willing to confiscate another infusion of reparation money-I mean bailout-for them. And another, and another. When the producers have been sucked dry, we will all learn who our daddy is.
Difficult for me to watch that show. Get flashbacks from growing up in the Detroit area. Detroit is a state of mind. Was not easy growing up around there. Moved to Los Angeles and at least the weather was better. LA will look like Detroit after the next big earthquake. They wont have the funds to rebuild LA.