OPM: Lifeblood of the Democrat Vampires
Bill Quick

Classical Values » The bankers did it!

There’s no comparison between retirees — many of whom live in the city and are familiar with its troubles — and the bankers who lent an insolvent city money, enabling and hastening its decline.

So it’s “the bankers” who are responsible for Detroit’s plight. Imagine for a moment if the evil bankers had refused to lend Detroit any money. They would have been excoriated in the Detroit Free Press, charged with “redlining,” and blamed for Detroit’s financial problems for their very refusal to help.

Unbelievable as it is in its utter shamelessness, if we assume for a moment that it is evil to lend money to an insolvent city, then all Detroit bondholders (not just bankers) become immoral, right? Never the issuer of the bonds. Why is it that government is not seen as the greater culprit by far?

According to the same logic wouldn’t it be immoral to give any more money to Detroit, ever?

Well, yeah. Along with just about every Democrat-controlled urban area in America.

Which is why this argument isn’t likely to get much traction. It blasts using Other People’s Money to finance debt-ridden Democrat strongholds when, in fact, the very heart of the Democrat project is spending Other People’s Money.

This entry was posted in Bailouts, Banking, Bankruptcy, Democrats by Bill Quick. Bookmark the permalink.
Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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