TROY, Michigan — The federal judge who oversaw Detroit's bankruptcy has told a group of business school graduates that others should learn from the city's economic troubles.
Bankruptcy Judge Steven Rhodes delivered the keynote during Saturday's Walsh College commencement at Zion Christian Church in Troy, north of Detroit.
The Detroit News reports (http://bit.ly/1D3pcHG ) that Rhodes said Detroit "got into trouble because people ran the city ... people who made mistakes and people who took unnecessary risk with the assets and responsibilities that were entrusted to them."
Detroit exited the largest municipal bankruptcy in U.S. history in December. Rhodes approved the city's plan to shed and restructure $7 billion in debt.
Rhodes says bankruptcy also "is a chance for people, who have fallen on hard times or made bad choices, to start over."
Information from: The Detroit News, http://detnews.com/
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