As I have written about recently, particularly in my piece The connection between Michigan’s EFM power grab, Rep. Fred Upton and Big Oil/Gas, my biggest concern about the use of Emergency Financial Managers (EFMs), particularly in areas where there are abundant natural (and other) resources to be exploited, is that they represent prime opportunities for businesses and corporations to use the economic crisis to line their own bank accounts and real estate portfolios with little regard with what’s good for the local community or the state.
These are reasonable fears. When you look at the training materials for the Emergency Financial Manager training session held in Michigan last February, you realize that this is indeed an industry.…







