The Detroit bankruptcy and the assault on democratic rights

[ceonupe]

1. Are these the rotten banks

That kent Detroit money to pay for its water system and for its retires when it did not have the direct cash flow to do so?

I'm all for protecting the pensions but I don't get why we bash banks and then beg to borrow?

I don't think the pensions will get the huge cut some think but I do think they will see a cut and future retirement programs will be much diffent.

Detroit has a tax base problem and without changing that its going to be hard to save a city that large.

It's funny because the only people buying properties in Detroit are banks. One of which the owner of quicken loans has bought something like over 700million over the last few years. So some people do see a future there.