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Detroit's bankruptcy follows decades of decay

old progrmr2 Wrote: Jul 19, 2013 1:26 PM
You are correct, King Coleman was not mayor during the riots, but Young was the beginning of the end. He set the suburbs against the city and was a strong race baiter; he was extremely corrupt, he made Mayor Daley look like an angel. He established a cadre of corrupt, black Detroit politicians. The city council has been a festering ground of nepotism and criminal activity with several families firmly in control for decades.

DETROIT (AP) — The city of Detroit, which for years paid its bills with borrowed money, is the largest city in U.S. history to file for bankruptcy protection. Here's a look at how the city spiraled into financial ruin and why it's in so much trouble:

WHAT HAPPENED?

For decades, Detroit paid its bills by borrowing money while struggling to provide the most basic of services for its residents. The city, which was about to default on a good chunk of its $14 billion-plus debt, now will get a second chance in a federal bankruptcy court-led restructuring. Detroit's budget deficit this year alone...

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