Your statement explains mine.
Bankruptcy is like cleaning toilets.
The porcelain is cleansed white, but then it is used again, in the same way.
Anyone doing business with Detroit after the bankruptcy on anything other than a cash basis is certainly asking for the same result.
It won’t happen, but my idea for “fixing” Detroit goes like this:
Make all the people move out. All of them.
Bulldoze all the buildings. All of them.
Sell the land by the acre to anyone with real money.
Build a new city from scratch: No criminal class, no debts, no unions, no pension liabilities, no aging infrastructure, no one in the city who does have real investment in building a workable city.
It’s the equivalent of “taking off and nuking the city from orbit”. It’s the only way to be sure.