Pro-Democracy Movement Rises Against 'Disaster Capitalism' in Detroit

[elleng]

81. I tend to agree with you, bwb.

'Orr is a bankruptcy expert who represented automaker Chrysler LLC during its successful restructuring. He will take control of Detroit's beleaguered finances, including a $327 million budget deficit and $14 billion in long-term debt. . .

"Hopefully (bankruptcy is) not imminent at all," Orr said. . .

In addition to his work with Chrysler -- for which Orr billed $1 million in fees during the first year of the restructuring of the smallest of the three major U.S. automakers -- Orr has other Michigan ties. He received both graduate and law degrees from the University of Michigan.

The emergency manager will face the huge and controversial task of repairing the finances of a city in crisis. Detroit has run operating deficits for nearly a decade, is starved of cash and facing a crushing burden of debt from commitments such as pensions and health insurance.'

http://www.nbcnews.com/business/bankruptcy-expert-named-manage-detroits-financial-crisis-1C8873346

I'm more familiar with DC's historically miserable public school 'system,' forcing us to send our daughters to private schools, so I am able to recognize a need for dramatic solutions than others may be. I'm also able to recognize the difference between good solutions and those that may not be as good.

Best wishes to Detroit and to Mr. Orr, who seems to have what it takes.