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Report questions assumptions behind Detroit bankruptcy | Michigan Radio:
"“At the end of the day, the report points out, the $18 billion number figure is a red herring,” says Saquib Bhatti, a municipal finance expert with the Nathan Cummings Foundation. “Because when it comes to municipal bankruptcies--unlike a corporate bankruptcy, where you’re trying to figure out the liquidation value by balancing liabilities against assets--you don’t do that with cities.”"
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