More of a reason to consider Receivership or Bankruptcy. The city's attorney needs to investigate which formation will dispose of law suits the best. I contend that if this can be done in Receivership it should be chosen over Bankruptcy because of the inseparable stigma that causes over being in Receivership.
One is government driven and the other is a legal admisssion to being in dire straits with creditors. Either will be imposed by 2011!If the city settles this case it will have to be for more than Gary Brown got because of the severity of the charges of obstructing a murder investigation.As a State Representative I am for the City of Detroit going into receivership to help balance its books, to right size the government structure and to weed out corruption that has run rampant throughout the city! Why should Michiganders have to pay taxes in the form of revenue sharing to a city steeped in inefficiency and corruption and over spending.
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