[TomGuy]

Do you really think Obamao will let Detwah go bankrupt? Too many votes involved.

And the tragedy will be that dozens of other towns and cities will be jumping in line for their 'fair' share, once the spigot is opened.

This will not be much different than the bailout mentality that began with GWBush and continued under Obama. Once they start, it is difficult to find a place to stop.

[cripplecreek]

That is exactly why I have little sympathy for the creditors. They knew Detroit was never going to be able to repay the debt but they kept loaning money anyway because they expected the feds to step in and pay it off. They’re doing the same with hundreds of other cities as well.

However, I’m not completely unsympathetic. The environment for business is getting better due to GOP control of the state and I would offer the creditors property as partial payment. They’ll make the properties profitable one way or another. There might even be a way to do the same with the pensions. A developer’s deal to buy the old Packard plant appears to be days away now and he’s already hired the architecture firm that originally built the place.