Tax and Spend

Update on the Detroit bankruptcy.

"“In a Chapter 9, which means the city holds more cards than they do in a private sector filing, the judge can’t impose a plan on the city and no one else decides what they can do,” said Michael Sweet, a noted authority on financial restructuring and bankruptcy. "

So the thieves can remain in power. It's going to happen everywhere.

Detroit has been bankrupt for years, but its accountants were paid to cover it up. The rulers didn't want to the looting train to end.