Friday, July 19, 2013

Detroit Backrupt

It's been coming for a long time.  Bankruptcy will allow wiping out Detroit's debts and unsustainable pension obligations and putting its finances on sound footing.  However, the long-term outlook for Detroit remains grim due to low human capital and the repeated election of incompetent leadership.

Detroit files for bankruptcy, setting off battles with creditors, pensions, unions

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