Report shows Detroit finances in worse shape: "A draft of the City of Detroit's year-end balance sheet for 2004-05 shows the city's financial picture continuing to deteriorate with increasing deficits and debt, and dwindling revenues and assets.
The city's Comprehensive Annual Financial Report draft for the fiscal year ending June 30, 2005, obtained Monday by the Free Press, shows that the deficit is $44 million more than expected, the city's bonded debt has increased by 10% and its net assets have fallen by half."
These crooks make Enron look good by comparison.
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