Detroit news headlines

To say that the Motor City is experiencing a political and financial upheaval would be the understatement of the century. As the New York Times writes, Detroit owes a whopping $18 billion to a wide variety of lenders, investors, and employees. As the proud city struggles to get its affairs in order, a process which is looking to involve bankruptcy, millions more in debt is accumulating as accountants and debt mediators solve the problem.

Of course, the problem with Detroit’s debt problem is the same as it is anywhere else across the country; people are going to lose their jobs and have their entire world change in the blink of an eye. The Huffington Post writes that 21,000 municipal employees face losing their city pensions. If Detroit’s bid for bankruptcy is successful, policemen, f

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2016-09-29 17:15

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