Friday, March 15, 2013

EMERGENCY MANAGER APPOINTED FOR DETROIT

Detroit has been governed by an unending string of incompetent or outright criminal politicians

By Bob Walsh

PACOVILLA Corrections blog
March 14, 2013

Michigan Governor Rich Snyder has appointed an emergency manager for the troubled city of Detroit, the largest city in the US to ever be put under the financial control of their state government.

Governor Snyder appointed Kevyn Orr to manage the situation. He has long priors in the bankruptcy field.

Detroit, once the third-largest city in our fair land, has been sliding into the crapper for years under an unending string of incompetent or outright criminal political leadership. They are now $327 million in the hole and have about $14 billion in unfunded pension obligations.

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