In my opinion, the state made a bad move backstopping Detroit. Are they going to do the same for Grand Rapids or Saginaw when those cities go bankrupt?
‘In my opinion, the state made a bad move backstopping Detroit. Are they going to do the same for Grand Rapids or Saginaw when those cities go bankrupt?’
In our small town one of the local churches got a little too ambitious and borrowed about 3 mill to expand and then, it comes as no surprise, had trouble making their payments. They convinced the county to back the loans.
I am sure this is illegal and looking forward to the day that it bites the county square in the ass.