Or so James Spiotto would have you think. Spiotto, a partner with Chapman & Cutler who specializes in bankruptcies and workout deals, is recommending the formation of state-mandated Public Pension Funding Authorities. The New York Times delicately explained the role of these new authorities in that they “would offer independent, quasi-judicial powers to sort out the […]
Tag Archives: bankruptcy
Detroit Goes Bankrupt?
Detroit filed for bankruptcy. City planners received this news with shock and dismay, like the death of an ailing uncle, the conversations around the water coolers made it sound like the City was living on borrowed time. But the big question is why? Why Detroit, which in the 1950′s was the nation’s fourth largest city, with a population of 1.8 million, was allowed […]
