Navigating the 'uncharted territory' of Detroit's bankruptcy
No matter who is commenting or offering expert opinion on the Detroit bankruptcy, everyone seems to agree on the fact that this is "uncharted territory." And that's about all they can agree on.
Take the speed of the bankruptcy: you can find experts who predict a slow, tortuous process. And just as easily, you'll find predictions that Kevyn Orr will move this bankruptcy faster than anyone expects.
And, did Kevyn Orr and Governor Snyder have any other options to help Detroit back to financial stability?
And what does this all mean for other cities in Michigan and the state's economy?
So many questions, so many opinions. That's why we were very glad to welcome into the studio Eric Scorsone, economist with Michigan State University and an expert on the ins and outs of government finances.
Listen to the full interview above.