THE CHAPTER 9 MUNICIPAL BANKRUPTCY LAW IS LITTLE TESTED...WITH LARGE CITIES
BUT DETROIT COULD BE THE FIRST TO "MAKE LAW" IN THE AREA OF MUNICIPAL BANKRUPTCY...ON A LARGE SCALE...
DETROIT IS ALMOST "TOO BIG TO FAIL"...
CLEARLY THE CITIES NEED TO GET OUT FROM UNDER THEIR HUGE GENEROUS PENSION AND HEALTH CARE BURDENS...
THOSE BURDENS WITH THE UNIONS WHERE FROM A DIFFERENT ERA...
THIS IS POST BUBBLE AMERICA...AND EVERYTHING HAS BEEN DOWNSIZED...EVEN IF THE FED HAS DEBASED THE CURRENCY ENOUGH TO MAKE PRICES LOOK STABLE.
BUT DETROIT COULD BE THE FIRST TO "MAKE LAW" IN THE AREA OF MUNICIPAL BANKRUPTCY...ON A LARGE SCALE...
DETROIT IS ALMOST "TOO BIG TO FAIL"...
CLEARLY THE CITIES NEED TO GET OUT FROM UNDER THEIR HUGE GENEROUS PENSION AND HEALTH CARE BURDENS...
THOSE BURDENS WITH THE UNIONS WHERE FROM A DIFFERENT ERA...
THIS IS POST BUBBLE AMERICA...AND EVERYTHING HAS BEEN DOWNSIZED...EVEN IF THE FED HAS DEBASED THE CURRENCY ENOUGH TO MAKE PRICES LOOK STABLE.
