Tuesday, 19 March 2013

City becomes bankrupt

A stunning headline, although nowadays, perhaps not so stunning as economically the world seems to have gone mad.

However, how does a city like Detroit become bankrupt?

At it's high point, the 2 million population had a settled way of life and it was seen as one of the driving forces of Northern America, now with a population of 700,000, it isn't making enough money to pay for basic public services.

Kevyn Orr has been chosen for emergency manager of Michigan's largest city, while the Mayor has been arrested on corruption charges.

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