Friday, March 30, 2012

Detroit Needs a Bailout: But The Picture isn’t all that Gloomy

lease trader

Detroit has become a ghost town. A thriving auto industry of the 1950’s had declined by the 1990s, while decreasing much of its employment rate. Local businesses had been affected and homes soon foreclosed. Much of the city had been abandoned. What was simply left was the remainder of the technology industry and revolving markets. Even though the auto bailout was said to be effective in saving what was left of the city, it has not fully recovered. [read]