Even wonder what happens when a city goes bankrupt? Does a form of government even control the city anymore? Other questions such as who provides the public services or do the residents still pay tax also come to mind. Since the city of Detroit filed for Chapter 9 bankruptcy protection on the 18th of July 2013 at an estimated $18 billion worth of debt, I guess it is worth talking about it how it could pan out.
$663,000 HECS debts and the Government’s new strategy
Is the Government’s plan to abolish $663,000 HECS debts a necessary measure to minimise wastage of public funds, or is it taking things too far? Gabriel Chenkov-Shaw investigates.