City of Detroit files for Chapter 9 Bankruptcy
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July 18th, 2013 (05:14 PM).
The Dark Avenger
Join Date: Jan 2013
Location: The States
I am not suprised by this, bankruptcy has been on the table for the past five years.
The issue has been the relocation of the affluent (mainly white) populations to the outskirts of Detroit, and subsequently, to far-distanced suburbs for fear that during segregation that affluent white children would have to share the classroom with subhuman black children along with the failing/dwindling of the auto-industry. Thus, the consumer spending within the city during the 1960's onward decreased as jobs and workers went outside of the city. This only aggravated poverty in these areas for families that could not afford to relocate, black populations were not able to finance a move and were not able to change their financial circumstances in the city that was losing opportunities and school funding given that once equal rights legislation became more prominent there existed few opportunities. Though, this does apply to many impoverished white families which were also caught up into the cycle of poverty and lack of resources to break out of the cycle, there still remains a disproportionate amount of black Americans that were "left behind" . With poverty there also exists higher crime and higher costs of policing and social welfare programs. Additionally, the auto industries abroad emerged into the world market, and thus aggravating the situation, since funding was reliant on that single commodity, as was Egypt reliant upon Egyptian cotton, when that commodity became less profitable and there existed no resource to fallback upon. The bankruptcy might have been the only way for the state of Michigan to cut their losses and manage a revitalization of the city given the corruption and reckless spending by city government. This year the mayor was found guilty of corruption charges.
The state and constituents have been trying to make changes in leadership, since the handling of Detroit affects the entire state. The governor's push for bankruptcy and usurpation of power from the current leadership may be the only chance of helping those in the state of Michigan and the residents of Detroit.
If you haven't been in Detroit, you have no idea. It is extremely devastating to see the amount of families and children living on the street. The leadership of Detroit has failed these families and the black community.
The Dark Avenger
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