demos.org/blog/11/7/14/detroit-moves-next-phase Wallace Turbeville: When the proceedings started, the negotiation of the settlement—and that is really what the bankruptcy became—was a discussion between an emergency manager, from a law firm dedicated to the financial sector, and the financial sector. ...[I]imposition of the emergency manager and the use of the bankruptcy proceeding was a terrible choice by the governor and legislature in the first place. It secured raw power over the process, but at what a cost! The $150 million in legal fees and other costs incurred by the emergency manager on behalf of the city is a real pity, but more was lost by the choice of the state to impose its will rather than work with elected officials. All of that is now historic fact. The challenge is now revitalization of the city, and that will require engagement by the state, the new city administration and the people of Detroit in a spirit of cooperation that was absent a year ago. That the peoples’ voice was at least heard has increased the prospect of such an outcome.
Posted on: Sat, 08 Nov 2014 21:09:31 +0000
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