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Detroit Resurrected: To Bankruptcy and Back

Download Detroit Resurrected: To Bankruptcy and Back

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Product details

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Audible Audiobook

Listening Length: 9 hours and 31 minutes

Program Type: Audiobook

Version: Unabridged

Publisher: Tantor Audio

Audible.com Release Date: April 25, 2016

Whispersync for Voice: Ready

Language: English, English

ASIN: B01E0B1J0Y

Amazon Best Sellers Rank:

Nathan Bomey created a compelling narrative out of the bankruptcy workout of Detroit, lasting from July 2013 to December 2014. One expects an epic fight from the largest municipal bankruptcy ever (so far), but what I came across was unexpected – a fast-paced narrative detailing the major players, and most importantly, letting those players explain themselves.(An aside: for the prim, I will warn there’s a lot of “NYC language” coming from particular players. It’s not Games-of-Thrones bad; after all, nobody gets killed (SPOILER ALERT!), no sexy romps, and definitely a dearth of direwolves. But yes, plenty of strong opinions uttered using vulgarities.)It was so refreshing to see the narrative played out where there are no real villains except some hazy groups (like a hapless City Council) and the definitely-named Kwame Kilpatrick. But he’s off-stage by the beginning of the book, being bundled off to federal prison, along with some of his cronies. But even the biggest losers in the deal, bond insurers FGIC and Syncora, get their say. They’re not made out to be eeeeevil Wall Street players, but players representing their own interests and making their own claims for fairness. The only Detroit institution leaving unscathed in the deal was the art museum, DIA. One gets to hear of the sense of betrayal by all the players, within and without Detroit, without their particular pain being mocked.The book has plenty of conflict, surprising alliances, and a few interesting twists at the end (which cleared up some mysteries to me at the time.) I thought the pacing was really well-done, and Bomey did a good job of explaining salient technical points, like present value, relatively quickly and enough detail for the lay reader to understand. Excellent book for the general public. It will also be a great study for law and business schools for people learning about negotiation in high stakes situations that seem like zero sum.If Bomey takes this level of detail and even-handedness to all his journalistic work, as well as the storytelling ability, he will go far in journalism.

An excellent tick-tock of Detroit's bankruptcy, and a detailed, fair description of the many colorful characters involved. If you're interested in Detroit, in urban governance, in bankruptcy law, or just how a community responds to (a partly self-made) catastrophe, you'll find this book hard to put down. The only shortcoming is in its description of the dubious financial instruments that hastened the bankruptcy and complicated its resolution: there's a very interesting Wall Street outrage buried in there, but Mr. Bomey doesn't give them enough attention, explanation, and analysis to make this aspect of the story easy to understand. But that's a minor shortcoming of a truly excellent book.

Well done. Unfortunately it brings back sad/bad memories for me since I was one of the C of D retirees that lost a considerable amount of their future pension payments and healthcare benefits. But overall, the book does a good job at reporting what occurred during this period in Detroit's history.Unfortunately, now that Detroit is "on the rise," too bad the city's leadership won't consider making retirees whole.

The author managed to explain the intricacies of the largest municipal bankruptcy in US history so that I as a lay reader felt as if I understood it. I enjoyed the portraits of the various participants. They added depth to what could have been a dry recital of events. Even knowing how it ended, I felt the suspense building as each party negotiated and settled. The author ends on an optimistic note. I hope it is justified.

The subtitle of this book should be, 'the intricacies of bankruptcy.' It is heavy on the deal making that took place to see Detroit through bankruptcy and light on just about everything else. Personally, was I was looking for a much more comprehensive or wholistic view of the 'resurrection.'

This book is well written and provides a very detailed background on the players and events associated with the Detroit bankruptcy. There is a background review on every key person, and their contributions to the resolution of many issues. The author does a nice job of identifying root causes without being Politically biased. There is enough technical detail to satisfy lawyers (particularly bankruptcy lawyers), yet presented simple enough for almost everyone.

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Detroit Resurrected: To Bankruptcy and Back PDF

Detroit Resurrected: To Bankruptcy and Back PDF

Detroit Resurrected: To Bankruptcy and Back PDF

Detroit Resurrected: To Bankruptcy and Back PDF