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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:


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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