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Michigan lawmakers waiting to see effects of Detroit's bankruptcy

LANSING (WKZO) -- While leaders in Detroit try to take the city into bankruptcy, state lawmakers are reminding them, and the governor, that this had better not cost anything to taxpayers. State Representative Bob Genetski, of Saugatuck, says there will be no bailouts for the Motor City.

Still, Genetski says that bankruptcy might have really been Detroit's only option, and he hopes all works out, saying that a thriving Detroit would be a good thing for Michigan.

Genetski's also curious about what effects the bankruptcy will have on Michigan's credit rating, and the availability of bonds for other Michigan cities.

 

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