Tag Archives: Detroit bankruptcy
You may have seen recent revelations that Detroit routinely raided its pension funds to award extra cash – including bonuses dubbed “the 13th check” – to both retirees and active employees. These payments were far in excess of the city’s … Continue reading
Detroit’s bankruptcy filing is one depressing read. Poverty, crime, blight – you name the malady and there’s plenty of data to back it up. And unfortunately, Detroit’s not alone. You may be wondering which city hits the wall next.