News Detroit topples into bankruptcy

nsaspook

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http://www.chicagotribune.com/news/chi-detroit-bankruptcy-ruling-20131203,0,3717341.story [Broken]

DETROIT—
A federal judge today ruled that Detroit is eligible for the biggest municipal bankruptcy in U.S. history because the city is broke and negotiations with its thousands of creditors were unfeasible.

The wide-ranging ruling that also said the city could cut retiree pensions. The ruling by U.S. Judge Steven Rhodes marks a watershed in the history of Detroit, once the cradle of the U.S. auto industry and now a symbol of urban decay and mismanagement.
 
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If this plays out like it has in several California cities, the aftermath of the bankruptcy will be the worst part.

Sam Bowen stands outside the picket fence of his Stockton home eyeing two sullen teen-age boys in a park across the street. The boys sit on a concrete table, facing a city-owned pool with debris littering its dry bottom. Recreation and library funding has been cut in half, and gangs are filling the void.

Drug dealers are moving into the park, says Bowen, 70. They used to congregate in a downtown park. Shootings were so common there that an employee of a bank across the street from the park filled a tray on his desk with slugs he’d picked up. The city closed the downtown park, and the dealers moved into Stockton’s neighborhoods – not exactly the crime-fighting model residents wanted.
http://www.mlive.com/news/index.ssf/2013/07/bankrupt_california_city_knows.html
 

Office_Shredder

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If this plays out like it has in several California cities, the aftermath of the bankruptcy will be the worst part.



http://www.mlive.com/news/index.ssf/2013/07/bankrupt_california_city_knows.html
It's not like Stockton was a sunny happy-go-lucky town, and then all of a sudden the city declared bankruptcy and it all fell apart. The money problems were all occurring before the bankruptcy, and just continued on their inevitable path afterwards. The same is occurring in Detroit; half the street lights are left off because they can't afford to turn them on/keep them in working order, and the police force has been cut to the point that it takes an hour to respond to an average high priority call. And this is all before the bankruptcy; yeah things might get worse but they were getting worse anyway.
 

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