Rick Snyder said he doesn’t see how the state’s state bankruptcy process can be handled by the federal government.
“We’ve been talking to the president about the possibility that he might agree to the extension of bankruptcy protection,” Snyder said on “The Lead with Jake Tapper” on Sunday.
Snyder said it is important to remember that this is a state-run company, so it is not the federal or state government that has authority.
“I would suggest that the bankruptcy process be handled with the best of intentions,” Snyder added.
The state has been in bankruptcy since the collapse of the housing market in the fall of 2008.
Michigan has not had a bankruptcy since, although it has filed for bankruptcy in at least seven other states.
Michigan is one of about 10 states that have not filed for a bankruptcy.