Thursday, December 18, 2008

Detroit and Chapter 11

I have argued in earlier posts that the government should allow Detroit to go into Chapter 11 but provide credit to avoid Chapter 7. The White House and Treasury seem to have come to the some conclusion. This news story seems likely to be a trial balloon, we'll see how it flies with the punditocracy and on the mythical 'main street.'

1 comment:

Gregory said...

I think Businessweek has the answer:

http://www.businessweek.com/magazine/content/08_52/b4114024610745.htm?chan=magazine+channel_news