Snyder Pleased With Speedy Detroit Bankruptcy

Oct 28, 2014

Governor Rick Snyder says he’s pleased with how quickly the Detroit bankruptcy trial wrapped up – and he’s looking forward to the judge’s decision late next week.

Credit jm.com

The Michigan Public Radio Network’s Rick Pluta reports.

Governor Snyder was an integral part of the process. He signed a second emergency manager law after his first one was rejected by voters. And he approved the decision to let Detroit file for bankruptcy. Snyder says even he was surprised at how quickly city pensioners and big corporate creditors agreed to settle and let the bankruptcy go ahead.

“Think about this – if you go back a year and a half ago, how many people expected to see this process go as well as it has?” he asks.

The governor’s Democratic challenger on next Tuesday’s ballot opposes the emergency manager law, and says he would have chosen a different path. But former Congressman Mark Schauer says, in the end, the bankruptcy might have been unavoidable.