Today, a judge approved Detroit's plan to pull itself out of bankruptcy, reversing the years of financial irresponsibility which crippled the city. Last year, Detroit became the largest city in U.S. history to file for Chapter 9 bankruptcy.
According to the Associated Press, the plan obviously involves slashing debt and getting rid of run-down buildings:
The plan calls for cutting retiree pensions by 4.5 percent, erasing $7 billion of debt and spending $1.7 billion to demolish thousands of blighted buildings, make the city safer and improve long-neglected basic services.
In signing off on the plan, Rhodes made a fervent plea to residents who expressed sorrow and disgust about the city's woes.
Judge Steven Rhodes advised to learn from the mismanagement which led to Detroit's demise. "What happened in Detroit must never happen again," he said. He also advised residents to "move past [their] anger" to "help [city] leaders" rebuild Detroit.
Like Bane said during one of his many great tangents in The Dark Knight Rises, "This great city, it will endure."
[via Associated Press]
