[quote=CA renter][quote=paramount]Another victim of public sector unions.
Public Sector Unions are a Terminal Cancer.[/quote]
That has got to be one of the most ignorant statements you could possibly make. Detroit’s problems are tied to the demise of the manufacturing sector (largely because of **mismanagement,** not unions), white flight, and the resulting demographic/population changes.
As far as I have been able to discern the proverbial camel’s back was broken by a derivatives bet with UBS and BoA on which way interest rates would go. That lead to the default. Granted a long history of decline preceded that, but it s the familiar story of breaking your neck and going to the knackers yard to get it fixed.
