The Detroit slide into bankruptcy is like describing an elephant: hard to know where to start. The narratives circulating about Detroit are all fascinating, sometimes irritatingly (but predictably) simplistic but I think the reporting has improved with time, as reporters are forced to look for new angles. Here’s the New York Times’ latest piece:
Detroit’s glittering sports teams operate in a different economy than does the rest of the city. Because of billionaire owners, lucrative television deals, dedicated fans and public subsidies, the city’s teams have few of the problems that have dragged their hometown into the largest municipal bankruptcy filing in the nation’s history.