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Urban Problem Bigger Than Detroit

JMWinPR Wrote: Mar 25, 2013 7:42 AM
Very interesting. I've never heard of this. I'm familiar with this concept in mining areas, but not TX. Is this the history of the King Ranch, LBJ ranch?

We are now hearing the usual voices of protest in Detroit in the wake of Michigan governor Rick Snyder appointing an outside expert to take over financial management of the near-bankrupt city.

Detroit is the largest city in American history to be seized in this fashion and turned over to an outside manager.

Reported deficit of the city is $327 million dollars and long-term liabilities are in the range of $14 billion.

But no matter to the unions, politicians, and bureaucrats who have been at the helm for years as the city has spiraled into the depths of the black hole...