Let detroit go bankrupt

Mitt Romney did not give his op-ed the title.

the new york times did.

and if you read the op-ed and are literate, you would be able to comprehend the fact that he was not calling for the liquidation of the auto industry.

nydailynews

In an op-ed entitled “Let Detroit Go Bankrupt,” a title chosen by the editors and not Romney (a frustration every writer shares),

huffpo

In his infamous New York Times op-ed, titled by the paper "Let Detroit Go Bankrupt," he did say that government money should be made available for automakers if they needed help emerging from bankruptcy.

now, if you would like to read the op-ed by romney, here it is.
nytimes

you may want to read slowly, as it might be too complicated for some to comprehend.

Detroit news just endorsed Romney.


www.detroitnews.com...

Or we could put a bunch of mofos in jail for a very long time...

Oh wait... That costs way too much, yeah just let Detroit default and fall into ruin. Then maybe ROBOCOP will come true, except it will be based in Wayne, Macomb and Oakland counties.

Romney already flip flopped on this issue.

But heres the problem with crony capitalism, which is what we have in America. BIG business can simply go to their bought and paid for minions in government and get a handout so there is no incentive to be responsible, to improve or to streamline.

Why shouldnt banks and investment houses take incredible risks? They can simply get bailed out by the government.

Why shouldnt GM over extend themselves and continue to produce a substandard product? Because they can simply get bailed out.

Government intervention almost always produces negative consequences.

If a small business owner goes bankrupt, is the government going to bail him or her out? Of-course not.

If BIG business (banks included) thought for a second that they were on their own, they would get their act together overnight.

Well, if they do let it go, I believe the governor can then appoint an emergency manager, that might actually be able to do something with it.
So what's the problem?

reply to post by gladtobehere

Well, given that I was 100% against the bailouts to begin with and feel they should have been allowed to fall into Bankruptcy reorganization back when it could have happened without total destruction...I guess it shouldn't be a surprise I wonder why anyone faults the editorial....despite it being years old.

Taking a look at Detroit today? I'd say it was a 100% unmitigated and TOTAL failure in trying to salvage the place that way. Today, nice LARGE homes and even full operating businesses with the tenant IN PLACE can be had for anywhere from $10,000 to $50,000.

I'd encourage anyone to look at a site like Zillow or Realtor.com. It's a horrible situation and getting worse. Detroit truly is Beirut in America (comparing to that place in the 80's) and an urban wasteland in every sense. I really feel for the people still trapped inside the city with property that is worthless now and they won't leave with nothing but what they can carry. Can't blame 'em..

THAT is what BAILOUTS bring....OH.. and GM has closed 10 United States Plants since 2009..while opening others in China and elsewhere. Yup. America first. Indeed.

Classic.
His article laid out exactly that advice.
That man changes his stance to fit history
more than any politician I've seen.
He should be a man and own up.

illiterate count: 1

Originally posted by sealing
Classic.
His article laid out exactly that advice.
That man changes his stance to fit history
more than any politician I've seen.
He should be a man and own up.

I suppose that advice ought to go double down on the man still sitting in the Office that made the majority of decisions and actions to make this happen.

Detroit could never have been blamed on the Federal Government. Not really... Until the Federal Government took it upon themselves to make the Auto Industry and Detroit itself, by extension, their own personal crusade to save. Now? It's utter and total failure is theirs to own. Bush started....Obama carried,..and neither of them are man enough to stand before the Public and admit it didn't work out well. Pathetic...while the people in Detroit face another day in paradise.

If they let Detroit go bankrupt somebody would have bought Pontiac for a $1.

They'd be employing people right now to make vehicles.

Somebody would have bought GMC for a $1.

They'd be employing people right now to make vehicles.

Somebody would have bought Hummer for a $1.

They'd be employing people right now to make vehicles.

Too bad nobody can buy those 3 brand names so they could carry on the Brand and create jobs.