Detroit in its current financial condition

http://nation.time.com/2013/07/25/the-wages-of-bankruptcy-stocktons-cautionary-tale-for-detroit

1. Identify what you think brought Detroit to its current financial condition?

2. If you were a consultant hired to rescue Detroit, what would you recommend?
In addition to the Chapter in Nice and these GRQs, please access and read the following:

http://nation.time.com/2013/07/25/the-wages-of-bankruptcy-stocktons-cautionary-tale-for-detroit/

Within the article, read the three embedded items:
Pittsburg’s Lesson for Detroit
Motor City Meltdown: Long Road Ahead for Detroit’s Record Bankruptcy
Is Stockton the Start of a Rash of Municipal Bankruptcies?

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