Who will take on job of fixing Detroit’s finances?
DETROIT – It appears the appointment of an emergency manager to take over Detroit’s failing finances is all but a done deal. But one question remains: Who will get the difficult, thankless job?
Gov. Rick Snyder is being coy about his selection, saying only the person is “top notch.” Michigan’s Emergency Loan Board will do the official hiring of the candidate, who will provide state oversight on spending and restructuring.
Whoever is chosen, he or she will not only have to tackle the city’s massive deficits and debt but also succeed in pulling Detroit out of a fiscal tailspin so steep that it’s had to borrow millions of dollars just to pay its bills and city workers’ salaries.
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