In These New Times

A new paradigm for a post-imperial world

No banker left behind

Posted by seumasach on August 19, 2013

[This is very interesting coming from a source which Fox News describes as “a virtual mouthpiece for the administration”. Is Obama’s new direction leading to the inevitable clash with Wall Street?]

“Detroit’s problems are a reminder of broader challenges, identified but still unmet: protecting pensions; protecting municipalities from Wall Street; and, at long last, revoking the obscene privileges of banks that allow them to prosper on the failings of others.”

Editorial Board

New York Times

15th August, 2013

The Detroit bankruptcy case has been cast as a contest between bondholders and pensioners that can be resolved only by shared sacrifice.

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