Fiscal martial law in Wisconsin?

First, Michigan approved a sweeping financial statute declaring financial martial law over the state. Now there are reports circulating that Wisconsin might follow suit.Governor Scott Walker denied claims he plans to push for a financial martial law in Wisconsin. The controversial Republican called these reports “absolutely false” on a Milwaukee-based radio show this morning."The interesting part is that it's false in both contexts," said Walker. "One: There's nobody on my staff, nobody in my administration, I'm certainly not working anything even remotely close to that. Secondly, it begins with the fact that he said the next Democratic assault. I'd like to know what the first one was."Forbes reported that Walker is prepping a plan that would allow him to force local governments to submit to a financial stress test and allow him to take over those municipalities that don't meet his standards.  "The Walker legislation would empower the governor to insert a financial manager of his choosing into local government with the ability to cancel union contracts, push aside duly elected local government officials and school board members and take control of Wisconsin cities and towns whenever he sees fit to do so."  This type of law would give Walker the ability to end municipal services at the drop of a hat.