News FAQ: Detroit Files For Chapter 9 Bankruptcy
The city of Detroit announced that it was insolvent and would be forced to file for Chapter 9 bankruptcy. Here are some of the most common questions about this debt-burdened city collected from around the internet:
Q: Could you please reduce this crisis to a single, easily understood reason? Preferably one that will allow me to direct my anger toward just one person or group?
A: No. There are many reasons Detroit is now bankrupt, including dwindling population and tax revenue, corrupt government, and an auto industry that no longer offers the jobs it once did.
Q: So, can I buy Detroit at auction for major cost reductions?
A: No, this is a major municipality, not an out-of-business furniture store. This will be a multi-year process delayed by many lawsuits.
Q: Well, at least there's plenty of derelict real estate for young artists to shoot their exploitative video projects.
A: That's all too true.
Q: Detroit used to be the engine that drove this country's economy, and now it's fallen on hard times. Shouldn't we just toss it out the window like yesterday's stinky garbage, like a fried chicken bucket filled with bones?
A: Yes, that is the American way.
Q: Is this because they had a Democrat mayor for over 60 years?
A: This is because there was a great deal of urban sprawl, and when many industries pulled out of the city, tens of thousands of buildings were left vacant, and there was no longer a tax base. The collapse is non-partisan.
Q: S**t. We are going to see another Michael Moore movie aren't we?
A: Most likely, yes.
Q: Since Detroit is full of criminals anyway, can't we just start sending the rest of our criminals there like England did with Australia?
A: Detroit is not, in fact, filled with criminals. Further, the number of people currently incarcerated in the US is 2.2 million, and Detroit lacks the infrastructure to support that number of people.
Q: Doesn't Detroit know that it won't be able to buy a car without having their dad co-sign on the loan?
A: Detroit knows.
Q: Didn’t everyone flock to the city to see the RoboCop statue?
A: Perhaps that could have been the salvation of the Motor City, but alas, it’s not due to go up until summer of next year.
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