I see the financial gurus on FOX aren’t wasting any time calling for a bailout. The thing is that the creditors kept loaning money long after it became apparent that the city couldn’t pay up and they knew that eventually the taxpayers would be forced to foot the bill. Refusing to bail them out will shake the confidence of the creditors who are letting other cities build up unsustainable debt.
As a Michigan resident I say hell no to bailouts.
Well if the goal is to make it past Nov 2016 elections, why not issue a few billion more Baraqqi/Bernanke/Lew minibucks?
Based on the last 5 years, that seems perfectly logical...
Yes. It is always the taxpayers and the taxpayers have unlimited funds so why make the right decisions.