Detroit Bankruptcy: Judge to Decide Whether City Hoodwinked OpponentsOctober 23, 2013 – In The News
Michael Sweet was quoted in the Christian Science Monitor article "Detroit Bankruptcy: Judge to Decide Whether City Hoodwinked Opponents" While the full text can be found in the October 23, 2013, issue of Christian Science Monitor, a synopsis is noted below.
The city of Detroit will ask a federal judge on Wednesday to declare it financially insolvent, setting the stage for what will likely be the largest municipal bankruptcy in U.S. history.
“The bigger news would be if Detroit is not declared insolvent,” says Michael Sweet. “At the end of the day, the city should prevail.”
The judge will not rule on perhaps the hottest issue in the filing, whether pensions can be cut, instead confining himself to ruling only on the city’s eligibility for bankruptcy.
“The most interesting argument is the one involving the state constitution and whether pensions can be impaired,” Sweet says. “But that is a discussion for another day.”
This article was also featured in Salon.