Since May, four main houses in Tyree Guyton’s internationally known Heidelberg Project have been leveled by arson fires. In many ways, the showdown between the artist and the arsonist says more about Detroit than does the city’s recent bankruptcy filing.
A new report by the Detroit Free Press traces more than 60 years of city government decisions that culminated in the city’s bankruptcy filing in July. It could have been avoided, and the causes aren’t quite what most people think.
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally.