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In Four More Years We'll Be Detroit

grich903 Wrote: Nov 19, 2012 10:04 AM
Common sence should tell anyone that if you make things too expensive at a time where a large number of people are out of work and others are just hanging on, it's bad business. The bail out was bad business in the way it was done.
pastorial Wrote: Nov 19, 2012 1:02 PM
g, so how could it have been better?
Frank391 Wrote: Nov 22, 2012 9:06 AM
Let them go bankrupt. The courts would have vacated the union contracts, they would have reorganized and reopened a leaner meaner machine. What BO did was give the unions $80 billion of taxpayer money.

From one moment to the next the city of Detroit doesn’t know where its next bailout is coming from. Chronically unable to pay its bills, the city looks to the state for cash gifts to stave off default. Operating under the terms of a consent agreement hammered out with the state, Detroit faces fiscal uncertainty largely because it has failed to get adequate concessions from public employee unions that are unsustainable. And those concessions that they have wrested from unions, politicians in Detroit have been unwilling to enforce.     

One prominent Detroit attorney, however, is facing the future of the Motor...

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