Picasso Saved Detroit Lost

Stephen Henderson, with the Detroit Free Press, and Kevyn Orr, Detroit’s Emergency Manager and now a Partner with the law firm Jones Day,, were guest on a segment of OnPoint Radio. Here is the podcast if you wish to listen. Both Henderson and Orr stated the city's bankruptcy was a success and Detroit is much better off as a result. I agree the bankruptcy was needed but the way in which it was implemented was not the best alternative and therefore its success is questionable. Success should be measured by more than how quick the municipality was removed from bankruptcy. Henderson stated, " the bankruptcy saved us from a financial disaster and left more money for us to provide services". Henderson went on to say that “Orr knows how to maximize the potential for his clients”. Kevyn Orr stated the purpose of bankruptcy was to “preserve value, stabilize the patient and rationalize the balance sheet.” Both Henderson and Orr are correct that putting Detroit into bankr