In response to:

Report: Yeah, Detroit Might Be Forced To Declare Bankruptcy

gliderdriver Wrote: Feb 19, 2013 11:22 PM
just bulldoze the whole place Mad Max style!
Bill1895 Wrote: Feb 20, 2013 8:02 AM
Build an impregnable wall around it. No one gets out: no one would want to get in.

What happens when a city government tries to tax, spend, and borrow its way to prosperity? Hint: it goes broke:

A state-appointed review team has determined Detroit is in a financial emergency, paving the way for Republican Gov. Rick Snyder to appoint an emergency manager who would need to come up with a new plan to get the city out of its fiscal crisis.

The team released its findings Tuesday, saying in a report to Snyder that "no satisfactory plan exists to resolve a serious financial problem."

The review team pointed to the city's ongoing cash crisis, which have threatened...