OpEdNews Op Eds

Cities Really Are Too Big to Fail

By (about the author)     Permalink       (Page 1 of 2 pages)
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

Must Read 2   Well Said 2   Valuable 2  
View Ratings | Rate It

opednews.com Headlined to H4 7/22/13

- Advertisement -
Source: The Nation


Michigan governor Rick Snyder

Does anyone seriously doubt that, if Detroit were a "too big to fail" bank, it would have been bailed out long ago? Or that its pensioners, rather than facing the threat of cruel cuts as part of Michigan Governor Rick Snyder's scheme to steer the city into brutal bankruptcy proceedings, would instead have pocketed hefty bonuses?

To ask the question is to answer it.

If the 2008 bailout of the biggest players in the financial sector -- and policy-making over the ensuing years -- tells us anything, it is that Congress and the Federal Reserve take care of Wall Street.

America's great cities? Not so much.

The political dynamic in Washington has been tough on America's cities for a long time. And it is worse now, as austerity advocates seek to shred a safety net that is vital for urban America. But there are some in DC who recognize that the federal government has both a responsibility and an opportunity -- as Pennsylvania Congressman Chaka Fattah, a leader of the Congressional Urban Caucus, suggested Friday -- "to analyze Detroit's fiscal situation and intervene on the city's behalf."

This does not mean that a bailout on par with what the bankers got is in the offering for struggling cities and counties across the country. Not on John Boehner's watch.

- Advertisement -

Yet, Washington cannot avoid this issue and expect the United States to return to robust economic health. The link between the economic viability of American cities and the economic viability of America is too great for that.

Click Here to Read Whole Article

Next Page  1  |  2

 

John Nichols, a pioneering political blogger, has written the Online Beat since 1999. His posts have been circulated internationally, quoted in numerous books and mentioned in debates on the floor of Congress.

Nichols writes about politics (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Paul Ryan? Seriously?

Scott Walker's Austerity Agenda Yields 'Worst Job Losses in US'

The Koch Brothers, ALEC and the Savage Assault on Democracy

Bernie Sanders: "I Am Prepared to Run for President of the United States"

How Socialists Built America

Mitt Romney Debate "Win" Gives Obama a Winning Issue

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)
As human inventiveness subsumes jobs in industry, ... by molly cruz on Tuesday, Jul 23, 2013 at 4:18:29 PM