Detroit has been for some time a city in trouble, especially financial.   Such as in its borrowing:  Detroit’s current debt-to-net assets ratio is 33:1.

Stephen Henderson of the Detroit Free Press writes “Gov. Rick Snyder’s proposed consent agreement to straighten out Detroit’s finances is also the radical change the city has needed for years. It’s a vehicle for the kind of massive restructuring that the old GM and Chrysler faced”.

Read in entirety Henderson’s For citizens’ good, Detroit leaders should consent to state plan.

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