Quote:
Originally Posted by Warren Kiefer
so did the flint water supplier !! At least that is what they believed !!
|
Well I think we're a bit better situated by not being tied to a city like Detroit, for water and total economic-jobs-housing collapse!
"The city of Detroit, Michigan, filed for Chapter 9 bankruptcy on July 18, 2013. It is the largest municipal bankruptcy filing in U.S. history by debt, estimated at $18–20 billion, exceeding Jefferson County, Alabama's $4-billion filing in 2011.
Detroit is also the largest city by population in the U.S. history to file for Chapter 9 bankruptcy, more than twice as large as Stockton, California, which filed in 2012. Detroit’s population has declined from a peak of 1.8 million in 1950; recently, the New York Times called the city “home to 700,000 people, as well as to tens of thousands of abandoned buildings, vacant lots and unlit streets.”
Detroit’s bankruptcy filing followed a declaration of financial emergency in March 2013 that resulted in Kevyn Orr being appointed as "emergency manager" of the city by Michigan Governor Rick Snyder. Orr’s subsequent negotiations sought to get creditors to willingly “take a haircut” on Detroit’s debt, and were ultimately unsuccessful."
https://en.wikipedia.org/wiki/Detroit_bankruptcy