DETROIT DECLARES BANKRUPTCY!
2-minute video - so true!
Bankruptcy a chance for Detroit to begin anew
Rochelle Riley - Detroit Free Press - 7/19/2013
Last month, Emergency Manager Kevyn Orr met with creditors at Metro Airport
to break the bad news that they would not get back what they loaned.
On Wednesday, Detroit’s two pension funds filed suit against Orr and
Gov. Rick Snyder to block Orr from cutting benefits for thousands of current and
active city workers.
And yesterday, Orr, an expert in municipal bankruptcy, a man who came to
Detroit to prepare a municipal bankruptcy — unless creditors, unions and
residents played ball — filed for protection under Chapter 9.
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