“Let Detroit go bankrupt” Mitt Romney wrote in an Op-ed. Well Detroit did go bankrupt, did Mitt Romney celebrate? What is his plan now or is he “yaughting”?
Detroit on Thursday became the largest city in US history to file for bankruptcy, as the city’s state-appointed emergency manager filed for Chapter 9 protection.
Kevyn Orr, a bankruptcy expert, was hired by the state in March to lead Detroit out of a fiscal free-fall and made the filing Thursday in federal bankruptcy court.
The filing lays the groundwork for a historic effort to bail out a city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.