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Friday, November 30, 2012

Collapse of America - Detroit (Michigan) to go Bankrupt by Mid-December

Detroit is at a political impasse that could lead to a financial collapse next month. Now, one state legislator is saying Lansing should consider “all its options”—including possibly dissolving the city as a municipality. The idea of dissolving Detroit—and effectively merging it with Wayne County—has popped up occasionally in some business and political circles recently. But mid-Michigan senator Rick Jones is the first official to publicly discuss that as an option. Jones says Detroit’s local leaders just aren’t dealing with the city’s fiscal problems—and having the state’s biggest city file for municipal bankruptcy would be “horrible.” Full article here
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