Detroit is in "Financial Emergency"

According to review team headed by Michigan State Treasurer Andy Dillon

DETROIT, Feb. 20 (UPI) -- A review team in Michigan has found the city of Detroit in a financial emergency but the state treasurer has ruled out a bankruptcy filing at this time.

Michigan State Treasurer Andy Dillon, who led the review, said he doesn't think Detroit should go through a Chapter 9 bankruptcy to cure its financial ailments, The Detroit News reported Wednesday.

Comments

[Tommy Maq]

Maybe we should cast off Detroit, NYC, Chicago and LA, forcing them to become independent city-states.

Lots of countries have done that in the past when some city becomes to expensive and corrupt, and some of the most free parts of the world started in precisely that way, like Singapore.