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Weekend Reading: WSJ’s Saving Detroit from Itself

Posted by Larry Doyle on July 27, 2013 5:58 AM |

The Wall Street Journal writes today that there should be no federal bailout of Detroit.

The AFL-CIO and its friends are mourning Detroit as a victim of capitalism, claiming the government has a moral obligation to rescue the bankrupt city. This is a nice political fable, but the hard truth is that Motown is a victim of its own political vices and a bailout would merely forestall the necessary rehab.

For lots of informative details adding up to a whole lot of sense on cents:

Saving Detroit from Itself

LD

This entry was posted on Saturday, July 27th, 2013 at 5:58 AM and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Larry Doyle

Larry Doyle A Wall Street veteran's views and instincts on the markets, economy, and all things financial.







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