The American Empire in a Changing World


Sunday, November 18, 2012

''Detroit Could Go Bankrupt Before End Of Year''

From StratRisks

''Detroit’s financial condition is rapidly deteriorating, and City Hall could run out of cash in December, an official told a state oversight board Monday.

City program management director William Andrews made the assessment at a meeting of the Financial Advisory Board, a city-state panel overseeing Detroit’s finances under its fiscal stability agreement with the state.

Detroit’s cash-flow crisis is “more challenging than it’s ever been and more challenged than we reported last month,” Andrews said.''

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