Is not Detroit too Big to Fail?
Is not Detroit too Big to Fail?
Detroit’s debt is estimated as high as $20 billion USD. The AIG bailout alone was $182 billion USD. Why can we not bail out Detroit, thereby saving its pension funds, schools, factories, roads, and not least, the people?
AIG has 63,000 employees. Detroit has 700 thousand residents. Is not Detroit, “too big to fail?”
Detroit becomes largest US city to file for bankruptcy (BBC)
Copyright © 2013 Henry Edward Hardy
About Scanlyze
Quis custodiet ipsos custodes?
Scanlyze is an online magazine of essays, commentary, satire, and analysis. Were we half as clever, for inspiration we would take Mark Twain, Ambrose Bierce, Swift, Montaigne, or Seneca.
“The men who create power make an indispensable contribution to the Nation’s greatness, but the men who question power make a contribution just as indispensable, especially when that questioning is disinterested, for they determine whether we use power or power uses us.”
John F. Kennedy, October 26, 1963
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