SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: sm1th who wrote (49486)7/27/2013 11:40:05 AM
From: Bread Upon The Water  Respond to of 85487
 
In reality, it was the stupid borrowing of the Detroit elected politicians against the union pension assets (they guaranteed that debt with swaps which went against them) that started the ball rolling downhill in a big way.



To: sm1th who wrote (49486)7/31/2013 11:49:32 AM
From: TimF  Read Replies (1) | Respond to of 85487
 
the debt that forced the bankruptcy is the union pensions and healthcare. Make those obligations similar to the private sector and Detroit would have a decent chance of recovery.

That and the unions role in the decline of American car companies that helped prop up Detroit in the past.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News