Detroit bankruptcy misconceptions

The Chapter 9 bankruptcy filed by Detroit has dominated the news for the past two weeks. However, some of the information that is being discussed may or may not be completely. For example, people are blaming corrupt government, unions, the auto industry and government services for the bankruptcy. While this might have some truth, it is hard to point at any one cause for Detroit’s financial problems and pending bankruptcy.

For a detailed analysis of Detroit’s bankruptcy read, “Detroit: Myths and truths about bankruptcy.”

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