Bankruptcy?

Supposedly Governor Rick Scott is laying the groundwork for managed bankruptcy for the City of Detroit. The articles states, "It would be the largest municipal bankruptcy in the nation's history, an unambiguous symbol of the city's epic failure and a chance for a fresh start."

Planning for a possible bankruptcy of Detroit should not be surprising coming from Snyder, an accountant-turned-CEO, and [Treasurer Andy] Dillon, a former investment banker. Both possess keen financial minds, strategic savvy and a habit for planning further ahead than most politicians, particularly the elected officials in Detroit flailing from one crisis to the next.

In anticipation of Detroit's financial collapse, for example, Dillon retained an investment banking firm in December 2010 — before taking office — to advise the Treasury on ways to restructure Detroit's balance sheet, reduce its liabilities and return the city's credit rating to investment grade.

City Council, by comparison, is blocking the mayor's effort to hire a local law firm, Miller Canfield, citing conflicts of interest. Nor has the city, likely about a month away from Snyder appointing an emergency financial manager, showed any inkling of forward planning and retained bankruptcy counsel.

This is what the City Council thinks:

Councilman Kwame Kenyatta said he will be among those fighting hardest against appointment of an emergency financial manager. He called the state's threat a matter of "do all that we say when we say, or we're going to take our marbles off the table and we're going to bring in an emergency financial manager.

"You have a governor, a treasurer and a mayor who say to hell with democracy and the citizens of Detroit," he said.

The most irresponsible thing that could happen would be an Obama bailout. That's what the City Council wants. The morons on the city council may think that will happen, but they will be sorely disappointed. Obama owes the city nothing. He’s been reelected. And Detroiters will vote for him no matter what.

The city should feel lucky that Snyder, not Granholm, is governor. But yet when he saved the city, they will have no loyalty or gratitude for that.

When you have no solutions, you really lose any right to say what is going to happen. It's a desperate situation. And desperate times call for very desperate measures.