Crony Capitalists at GM, Chrysler, fat and happy while Detroit starves

GM CC

My bet is that within 15 years the American car manufacturers will mess things up again, but for right now they are bailout plump. The city which grew up around the big 3 is in a nearly post-apocalyptic state however. Miles and miles and miles of rust spread out from the city center where GM and Chrysler executives look down from their offices.

That is when they aren’t touring the new manufacturing facilities in China.

(From The New York Times)

Perhaps nowhere in America does the view from the corner office differ so vividly from the city streets, where abandoned homes and deserted factories are a daily reminder of Detroit’s descent into the largest municipal bankruptcy in the nation’s history.

It is a striking juxtaposition of corporate wealth and success in a city that cannot provide adequate police protection or keep the streetlights on.

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