How Detroit Was Reborn Detroit Free Press
Apr 24th 2015 In In The News
U.S. District Chief Judge Gerald Rosen wondered what the hell he’d gotten himself into.
Rosen was in Florida in August 2013 for a quick golf vacation but was rising before dawn each day to read Detroit’s massive plan to restructure its debt. The numbers were horrific: $18 billion in liabilities, 78,000 blighted buildings, four of every 10 dollars already devoted to debt, pensions and retiree health care.