Friday, September 27, 2013

Fed's Bailing Out Detroit

From the Chicago Tribune: The White House will send a group of top officials to Detroit on Friday to offer millions in assistance for knocking down empty buildings, hiring firefighters and adding buses to the city fleet, as the city struggles after filing for bankruptcy.
The federal aid has been tapped from a variety of existing programs and is part of a patchwork of grants complementing investments by the city, state and private foundations.
"We're going to continue to support the efforts under way in Detroit and ensure the federal government is an active partner in supporting the revitalization of the city," said Gene Sperling, director of the White House National Economic Council, who has led federal discussions with Detroit on how best to help.
Sperling and cabinet officials will discuss the plan at a meeting with Michigan Governor Rick Snyder, Detroit Mayor Dave Bing, the city's emergency manager Kevyn Orr, members of the Michigan congressional delegation and other leaders.
http://www.chicagotribune.com/news/sns-rt-us-usa-detroit-aid-20130926,0,5921255.story
And here I thought the Fed's were not going to bail out Detroit.

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