Tuesday, July 23, 2013

Today's Detroit Links

The bankruptcy judge has set a hearing tomorrow on the constitutionality of the proceeding.

Jonathan Chait, who grew up there, says "it’s hard to imagine any plausible way to pull the city out of its death spiral."

Eric Posner:  "Detroit’s bankruptcy filing was unavoidable and largely sensible. But it will help that wounded city little. Detroit’s problems are deeper than its inability to pay its debts. ... When Detroit emerges from Chapter 9, it will have fewer debts, but it will be the same old city: still too big and spread out, still mismanaged."