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NoOneMan

(4,795 posts)

8. Capital vs Labor

Reply to kwassa (Reply #7)

Sat Jul 20, 2013, 10:16 PM

Jul 2013

And Detroit would be the place to further drive the stake through the heart of that argument.

Funny thing is, the labor did what it was supposed to. The capital didn't magically manifest into sustainable growth.

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Highlight:

Questions About Detroit's Bankruptcy: [View all] HardTimes99 Jul 2013 OP

"who is actually going to get hurt by a failure of Detroit to pay its debts" NoOneMan Jul 2013 #1

Are pensioners 'creditors' the way investors who buy bonds are? HardTimes99 Jul 2013 #2

Anyone with a valid debt should be able to claim to be a creditor NoOneMan Jul 2013 #3

No, they are unsecured creditors. kwassa Jul 2013 #4

That really pisses me off - nt HardTimes99 Jul 2013 #5

By investors, do you mean bond holders? NoOneMan Jul 2013 #6

Exactly. Water and sewer bondholders. kwassa Jul 2013 #7

Capital vs Labor NoOneMan Jul 2013 #8