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Old 12-16-2012, 02:01 AM
 
Location: Michigan
29,391 posts, read 55,596,323 times
Reputation: 22044

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CHICAGO (Reuters) - A check of Detroit's finances has found a "serious financial problem" with the cash-strapped city, a step that could lead to the biggest municipal bankruptcy in U.S. history.

Michigan State Treasurer Andy Dillon notified Governor Rick Snyder of the report's findings late Friday, just four days after the review began, according to a statement from the state Treasury Department.

Detroit has "serious financial problem": Michigan treasurer - Yahoo! News
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Old 12-16-2012, 05:31 AM
 
Location: On the brink of WWIII
21,088 posts, read 29,219,613 times
Reputation: 7812
OMG, how did this happen? What is the city planning on doing? Hasn't anyone been paying attention!
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Old 12-16-2012, 06:42 AM
 
2,210 posts, read 3,495,655 times
Reputation: 2240
Surely you jest.
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Old 12-16-2012, 10:53 AM
 
Location: North of Canada, but not the Arctic
21,132 posts, read 19,707,707 times
Reputation: 25645
Quote:
Originally Posted by zthatzmanz28 View Post
OMG, how did this happen? What is the city planning on doing? Hasn't anyone been paying attention!
Apparently not in Chicago (where the article is from).
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Old 12-16-2012, 11:34 AM
 
Location: Michigan
4,647 posts, read 8,599,691 times
Reputation: 3776
Quote:
Originally Posted by Retroit View Post
Apparently not in Chicago (where the article is from).
Maybe they're surprised to see corruption actually bankrupt a city.
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Old 12-16-2012, 03:23 PM
 
7,237 posts, read 12,741,554 times
Reputation: 5669
Quote:
Originally Posted by animatedmartian View Post
Maybe they're surprised to see corruption actually bankrupt a city.
Corruption doesn't automatically correlate with incompetence.

As corrupt as Chicago's leaders are, they're actually smart enough to get the job done unlike Detroit's leaders.
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Old 12-17-2012, 01:26 AM
 
1,395 posts, read 2,525,097 times
Reputation: 1328
Quote:
Originally Posted by zthatzmanz28 View Post
OMG, how did this happen? What is the city planning on doing? Hasn't anyone been paying attention!
*Chortle*
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Old 12-17-2012, 05:56 AM
 
Location: On the brink of WWIII
21,088 posts, read 29,219,613 times
Reputation: 7812
Quote:
Originally Posted by Retroit View Post
Apparently not in Chicago (where the article is from).
What's next? Receivership? Possibly taking over the public schools? Why were we notified of this when the bonus checks went out?

The real news will be when Detroit raises from this mess..
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