Those of you who are old enough remember a Detroit that was the symbol of American Industry amongst other things...........
Detroit is now the symbol of how the People no longer matter, nor does the country. It is a symbol of how the only acceptable solutions to those who run things is profit taking.
Detroit is the symbol of the current direction industrialised civilisation is taking. It is a representative snapshot of the big picture
Detroit goes bankrupt. TOO BIG TO FAIL UBS AG, Bank of America and Merrill Lynch will get 75 cents on the dollar on nearly $340 million in secured debt, while unsecured creditors, such as retirees and general obligation bonds, will likely get just pennies on the dollar. WTF IT JUST GOES ON...
And I guess we'd be remiss if we didn't thank Reagan and Bill Clinton for their 'free trade efforts' on behalf of the corporates.......
Detroit is in debt to the tune of $18-20 billion by last count.... The 75 cents on the dollar for $340 million is peanuts by all accounts.
Wanna blame anyone, blame the city council for spending far beyond their capacity for the last years and taxing business out of the area.
Does it surprise you? Not me.
Second-most expensive public bankruptcy in history: Jefferson County, Alabama. Composition of the county council: 2 Democrats, 3 Republicans.Another Democrat city in financial trouble. Go figure.
Mayor was a Dem and sent to jail for corruption.Second-most expensive public bankruptcy in history: Jefferson County, Alabama. Composition of the county council: 2 Democrats, 3 Republicans.
Yep, and that was the sole cause of the bankruptcy.Mayor was a Dem and sent to jail for corruption.
I calculate lotsa folks were just so embarrassed by the mayor they upped sticks and hit the road.Just what is the cause of Detroit's population decline?
I calculate lotsa folks were just so embarrassed by the mayor they upped sticks and hit the road.
Yeah, that's gotta be it. The collapse of the heavy manufacturing system, particularly autos, couldn't have had anything to do with it.
Hey, I know! It was the unions!