Turning Detroit Over to Capitalists - Galt's Gulch

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Turning Detroit Over to Capitalists

Posted by DragonLady 10 years, 9 months ago to Business

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Here's a solution that makes sense. Of course, it would only be a success if the Feds weren't involved in any way, shape or form. Dare we hope that this might actually come about?

SOURCE URL: http://www.foxbusiness.com/government/2013/07/24/officials-mull-plan-to-shrink-motor-city/?intcmp=trending

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Posted by rockymountainpirate 10 years, 9 months ago

Why would Detroit have to turn land over to the state to sell? Why the middle man? If there's a buyer(s) the city should sell it through the bankruptcy court. With the state involved I see more than likely crony-capitalism rather than capitalism.

I do like the idea of capitalists making something of it. What in those 78,000 buildings can be recycled into a new product?

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  Posted by DragonLady 10 years, 9 months ago
  
  Did a little research this morning, as I'm not too familiar with bankruptcy rules. Came up with this explanation which I thought was pretty good.
  
  http://www.pewstates.org/projects/statel...
  
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    Posted by rockymountainpirate 10 years, 9 months ago
    
    Interesting. Thanks for finding that.
    
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    Posted by khalling 10 years, 9 months ago
    
    very interesting article. thanks, Dragon
    
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Posted by Rocky_Road 10 years, 9 months ago

I can't get the link to load...is this the Park thing that has been talked about in here?

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  Posted by DragonLady 10 years, 9 months ago
  
  It's from the Pew Charitable Trust website (not a place where I spend a lot of time, but occasionally they do have something valid to say). If you Google the title of the article "Why Michigan is Overseeing the Detroit Bankruptcy" the first entry is the article. Hope this works for you!
  
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    Posted by Rocky_Road 10 years, 9 months ago
    
    It did, and it is a different story.
    
    I'm all for anyone taking this on other than the Federal government, where my taxes go to.
    
    But the history of this doesn't sound very promising....
    
    Thanks for the redirect!
    
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      Posted by DragonLady 10 years, 9 months ago
      
      You're welcome. Granted, it would take some very determined prople (with a lot of capital), but it's worth a try. Guess I'm just a hopeless optimist!
      
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