Judge clears Detroit for bankruptcy protection « Hot Air: "From the beginning, the overwhelming sticking point of the bankruptcy filing was whether or not the city’s managers negotiated “in good faith” with the relevant unions and pensioners, usually a prerequisite for bankruptcy eligibility and one which the unions vehemently argued that the city categorically did not meet. The judge ruled that the city may have left something to be desired on that front, but that it’s also kind of impossible to negotiate with a “stone wall” and that the city’s extremely dire financial woes were the trump card here."
'via Blog this'
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