In 2009, Harris — who became chief financial officer for Mayor Kenneth Cockrel Jr. during his single year in office 2008-09 — met with Wall Street firms and rating agencies to help the water department issue revenue bonds. At one stop with a credit agency, he discussed the city’s tenuous financial circumstances with an analyst.
“She says, ‘Well, what happens if Detroit goes bankrupt?’” Harris recalled in a Free Press interview. “I said, ‘We don’t. The state will step in and ensure that they right the ship and that the bonds are paid.’”
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