We’ve all heard about the travails facing cities like Detroit: unemployment, foreclosures, dwindling state pensions. But we haven’t heard much about how small Midwestern towns — cities like Hamtramck, Michigan — are faring. Yesterday Hamtramck announced it might have to declare bankruptcy, or else run out of money by January 31 of next year. How did Hamtramck end up facing bankruptcy? And will the economic downturn force other municipalities across the country to follow suit?
Joining us is to discuss the situation in Hamtramck is Bill Cooper, Hamtramck City Manager. Also speaking with us is David Abromowitz, senior fellow at the Center for American Progress, explains whether and how bankruptcy may become a trend for small cities in this economic climate.