Motor City Could Run Out Of Money As Early As Next Week

The city could run out of cash by next Friday if the dispute over a lawsuit challenging the consent agreement isn't resolved, opening the door to a state takeover, Mayor Dave Bing's administration said today.

Bing, who spoke this morning flanked by high-ranking members of his administration, said he has urged the city's top lawyer to drop the lawsuit but added he is powerless under the new city charter to force Krystal Crittendon to comply. Political pressure on her would not work, he said.

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Steve - 6/8/2012 2:30:30 PM

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Just throw a pile of money at them. It worked fine for the auto industry. Why not cities, too? (Bitter sarcasm is intentional)

Agent009 - 6/8/2012 3:14:08 PM

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Jesse Jackson’s solution to Detroit’s “severe financial emergency”? That you, the American taxpayer, should be willing to foot the bill and bail out the entire city of Detroit, despite all the mismanagement and corruption that’s gone on for decades. He believes the federal government should swoop in like it did with GM and bail out the whole city:

I would think that what we need to think about here – I mean the U.S., the federal government has a role to play in this. It intervened to bailout GM, intervened to bailout banks, what about American cities?

1CarSmart1 - 6/11/2012 6:22:08 AM

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What a horrible place. Look at the picture, very few tall buildings. Probably 30 stories at best. They are idiotse and cannot build a tall building or it would fall down. I am surprises there not more fires.