Our final note today is about Detroit. We’ve talked a lot about it on this show, about how the city gets out of bankruptcy.
Here’s another peek into the Detroit’s dysfunction: It turns out that earlier this year the city lost a million-dollar check.
The school system sent the check to the city. It got put in a drawer at City Hall. And didn’t turn up for a month.
They didn’t wire the money because Detroit doesn’t have the technology to do that. Its financial systems are about 30 years out of date.
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