Faced with bankruptcy of the city that once represented American capitalism President Romney has stated that, “Detroit must undergo bankruptcy so the free market can restructure this asset for the benefit of us all.”
After conveying this message from his father, Presidential Spokeperson, Tagg Romney, wne ton to explain ” a financial emergency exists but5 President’s choices are more than limited. The governor, a Democrat, could appoint an emergency manager to keep Michigan’s largest city from plunging into bankruptcy, the government could continue state financial supervision through the sequester mean Michigan would have to do this with no help from the Federal government. The only choce may be a bankruptcy filing.”
Adapted from The Detroit News: http://www.detroitnews.com/article/20130220/METRO01/302200361#ixzz2LTBHDC6n