Why should governments that are broke hold on to art rather than pay creditors or restore services?
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Debtors Can’t Be Hoarders
Tag Archives: Detroit
Detroit’s Wishing Well Runs Dry
Detroit is bankrupt, and all the wishful thinking in the world will not allow the city to keep impossible promises to its unions.
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The Inevitable Breaking Of Impossible Promises
Public pensions are based on promises impossible to keep at the costs reported to taxpayers. Many such promises will be broken.
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A Slow Slide To A Hasty Bankruptcy
Detroit’s rush to file bankruptcy is just the beginning. The real question is whether there is enough city left to save.
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Can Struggling Cities Shrink Their Way To Health?
Luther Gordon, 54, has lived in the same Detroit neighborhood for more than two decades, as he told The New …
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Nothing Sacred In Bankruptcy
Only a fiscal miracle can save some underfunded public pensions. Bankruptcy judges are not in the miracle business.
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