The Detroit bankruptcy’s “expert witness” has issued her report, the first truly independent assessment of whether the city has any shot at solvency. In reading through it, one can’t help but wonder what Richard Ravitch would have said. Ravitch is not an accountant, which is presumably why Judge Steven Rhodes did not give him the job (Rhodes did retain him as an informal pro bono adviser). Ravitch’s deep knowledge of leadership during times of fiscal crisis makes him better-positioned than anyone else to judge whether all the buzz and hope around Detroit is more than just hope and buzz.
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