City Bankruptcies: Detroit is Not Alone

[Annette Hibbler]

Detroit is not the first city to seek protection from it’s creditors. San Bernardino, population 210,000 and Stockton, population 292,000 both sought protection from it’s creditors last year.

Due to years of bureaucratic mismanagement who chose to bend to self-serving political favors from labor unions and the like, above the financial health and well-being of the state and its citizens, many cities are coming up dry.

READ MORE http://mipreferred.wordpress.com/2013/07/31/detroit-is-not-alone/