Wednesday, March 22, 2006

Receivership

Listen to this introduction to an article on Detroit's looming financial crisis from today's Detroit News:
Amid growing concern about Detroit's financial status, Mayor Kwame Kilpatrick is asking the City Council for authority to borrow $130 million to cover immediate and overdue bills.

Without the loan, Detroit will run out of cash by June, according to a city finance department report.
Growing concern? Growing concern? How much more concerned can we get? We're at 100! I mean, growing concern should have started, I don't know, 1970? Now it's a little late for anything less than full, wide-eyed panic.

2 comments :

Craig said...

Here come the feds ...

Kendra Lynn said...

Lord, have mercy! I have never heard of a city running out of money..or at least, of one admitting that it was going to. How ridiculous!