The bankruptcy in Detroit had to be held up waiting for Mr. Orr to make believe there was any alternative (to bankruptcy) and for some court hearings regarding Birmingham's bankruptcy. He knew the pensioners and unions wouldn't cooperate in any way.
Now, the poor bankruptcy judge in Detroit will have years of rulings to make. These are very important judgements because so many cities are lining up to dump liabilities regarding retiree pensions and healthcare benefits.
After all, when there's no money, there's no money.
And in Chicago, the State of Illinois will be not able to help the city fiscally because they're in exactly the same shape as The City.
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Detroit has some assets such as the Detroit Institute of Art that has artwork work billions. Liberals are aghast at selling the art. I'm aghast at letting pensioners and investors go penniless.