(I didn’t get much sleep last night, and my ADD is always worse when I’m tired, so forgive any faux pas.)

I’m flipping through the channels this morning and land on CNBC with Dan Gilbert, the grand pooh bah wizard of rejuvenating Detroit.  I only caught the last part of his schpiel, but what I was hearing made me sick.  He spoke of bringing in “interns”.  Interns? Yep, he’s bringing in young minds that can be manipulated into believing what they’re doing is innovative and exciting and the right thing to do….

…I find it more than mildly curious that 50-somethings are by appearances being ignored.

And it’s disturbing how the article below reads that the sharks are circling to see how much they can get away with–everyone is watching to see who wins the “tug of war” between the unions and the moneyed interests.

From the NYTimes article:

….Detroit officials have proposed paying off small fractions of what the city owes, they have indicated they intend to treat investors holding general obligation bonds as having no higher priority for payment than, for instance, city workers — a notion that conflicts with the conventions of the market…

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An obligation is an obligation.  I don’t know why the city would be any less obligated to the workers who labored and were made a promise than to bond holders who were also made promises but did nothing to earn that but sit on their butts?  In my view, EVERYBODY should be made to give a little.  Everybody loses a little bit for the good of the whole.

Now I know folks will be saying that “investors won’t invest if they aren’t getting top dollar…”  I don’t believe that if they are still making money for doing nothing that they are going to pass on that opportunity.  Investing is a risk….why shouldn’t the investors share in the losses as well as the gains?

(Ironically, or not, I’m playing David Crosby’s “Hero”  )

My other blogs on Detroit here and here . Note the link to Dan Gilbert profiteering off of the carcass of Detroit.

Background on the “Emergency Manager”