Michigan Attorney General Bill Schuette is urging a federal appeals court to immediately jump into Detroit's bankruptcy and consider whether pensions can be cut, the Associated Press reported yesterday. Schuette said in a court filing yesterday that he backs the bankruptcy case but says he strongly believes reducing pensions would violate the Michigan Constitution. While the case is being appealed, steps are being taken outside the courtroom to come up with additional funding for Detroit’s debt. Several foundations, for instance, have pledged more than $300 million to patch up pension funds and prevent the sale of artwork from the Detroit Institute of Arts. Gov. Rick Snyder is trying to win approval for millions more in state aid.
