Detroit's leaders are accusing bond insurers, unions and retiree groups who have tried to block the city from borrowing a $350 million bankruptcy loan of overlooking the city's need to fix its "post-apocalyptic urban landscape" and, instead, focusing on their own recovery, Dow Jones Daily Bankruptcy Review reported today. In court papers filed on Tuesday, the city's lawyers urged Judge Steven Rhodes of the U.S. Bankruptcy Court in Detroit to sign off on the mechanics of the bankruptcy loan, which would give city officials more than $100 million to target arsonists and repair its "crumbling" infrastructure.
