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Detroitís Precious Art
National Review ^ | July 27, 2013 | National Review

Posted on 07/25/2013 7:59:21 AM PDT by National Review

Selling only 38 pieces from the Detroit Institute of Art could raise $2.5 billion.

By John Fund

Everyone has an idea about how to handle bankrupt Detroit. Public-employee unions want a state or federal bailout. A liberal state-court judge in Lansing wants to block the bankruptcy because it might reduce government pensions — with no thought as to where the money to pay for them will come from. Supply-siders want to create “innovation zones” that would spur growth by reducing taxes and regulations in the inner city, but it would be years before that measure would have an effect.

(Excerpt) Read more at nationalreview.com ...


TOPICS: Culture/Society; Government; News/Current Events; US: Michigan
KEYWORDS: art; chapter9; detroit; johnfund; michigan; nro; rosemaryaquillina; uaw
Read more at: http://www.nationalreview.com/article/354384/detroits-precious-art-john-fund
1 posted on 07/25/2013 7:59:21 AM PDT by National Review
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To: National Review

Please do not posted editorials in the Front Page sidebar.


2 posted on 07/25/2013 8:01:47 AM PDT by Admin Moderator
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To: National Review

I saw pictures of Detroit’s city council ,now that’s work of art


3 posted on 07/25/2013 8:02:55 AM PDT by molson209
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To: National Review

Sell them all. Or have the bondholders seize them like what happened to the Argentinian naval vessel.


4 posted on 07/25/2013 8:04:28 AM PDT by glorgau
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To: glorgau

The flaw in this idea is that it makes sense. That assures that it will never happen.


5 posted on 07/25/2013 8:06:55 AM PDT by Wordkraft (Remember who the Collaborators are.)
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To: National Review

The flaw in this idea is that the assets in question are not owned by the entity that owes the money to the bondholders.


6 posted on 07/25/2013 8:10:40 AM PDT by babble-on
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To: National Review

What would happen to the regional taxing authority that the voters stupidly approved last November to fund the Detroit Institute of Art (DIA) and other entities, such as the Detroit Zoo? Do the residents of Wayne, Macomb, and Oakland counties not have a stake in the assets of the DIA?


7 posted on 07/25/2013 8:17:02 AM PDT by FrdmLvr (Qui pacem, praeparet bellum.)
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To: National Review

A once great city totally trashed by creeps using government to enrich themselves at the taxpayers’ expense.


8 posted on 07/25/2013 8:23:16 AM PDT by aruanan
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To: National Review
The best art that came out of Detroit had four tires and a engine. Its best artists had names like Earl, Loewy and Tjaarda, and anyone could buy it for a reasonable price.

CC

9 posted on 07/25/2013 8:40:07 AM PDT by Celtic Conservative (tease not the dragon for thou art crunchy when roasted and taste good with ketchup)
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Please Contribute Today!

10 posted on 07/25/2013 8:45:44 AM PDT by RedMDer (When immigrants cannot or will not assimilate, its really just an invasion. Throw them out!)
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To: National Review
One [Detroit City] council member told John Stossel of Fox News that he opposed selling [vacant lots] "because the developer wants to grow trees. We don’t need any more new trees in our city."

You can't fix stupid.

11 posted on 07/25/2013 8:55:36 AM PDT by NonValueAdded (Unindicted Co-conspirators: The Mainstream Media)
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To: National Review

Why stop with the DIA?

We could sell off the original of the Declaration of Independence, to help pay off the National Debt.

Or, how about the the naming rights to the Lincoln Memorial or the White House?

Better yet, renaming the Capital Building to reflect Corporate sponsorship would make de jure what’s now only de facto.

And... the possibilities at the State level are endless: for example Texas is raiding the rainy day find to pay for roads; would it not be better to turn the Alamo into the privately operated theme park to raise cash for freeways?


12 posted on 07/25/2013 8:56:52 AM PDT by M. Dodge Thomas (million)
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To: M. Dodge Thomas

In the end, we may have to sell Hawaii to China to satisfy our obligations.


13 posted on 07/25/2013 8:58:39 AM PDT by Publius
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To: Publius
In the end, we may have to sell Hawaii to China to satisfy our obligations.

OK by me...I'm good throwing in CA too.

14 posted on 07/25/2013 9:10:16 AM PDT by pgkdan (Marco Rubio can go straight to hell!)
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To: babble-on

Perhaps that is up to the bankruptcy judge to decide.


15 posted on 07/25/2013 9:19:34 AM PDT by Former Proud Canadian (The IRS--a softer Gestapo)
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To: National Review

I’d like to see the unions and assorted other corrupt groups in the municipal government be told they each get one representative and they must sit down and solve this problem with some people from private sector. No payoffs- no backdoor deals- solve this together. In the open. ALL ideas on the table. NOTHING stays as is- not tax structures not unions- nothing. Start from scratch. Sequestered until solved.

Well...it’s just a fantasy!!!


16 posted on 07/25/2013 9:21:11 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: National Review

I’m sorry but the works of art at the Institute probably don’t mean much to the Detroit populous that just wants free Obama phones and money from Obama’s stash. The old adage about putting pearls before swine comes to mind. I can hardly imagine there is anyone left in Detroit who would seriously visit these collections let alone anyone foolhardy enough to come to Detroit as a tourist to see these works of art. Sell off the collections at DIA and fund the city’s own bailout. I doubt that there is anyone in Detroit who would miss the art.


17 posted on 07/25/2013 10:13:25 AM PDT by The Great RJ (construction)
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To: glorgau
sell them all.

That's a bad idea as those in charge of Detroit now will just waste the money. It would be better to lease them out to private citizens or other museums.

18 posted on 07/25/2013 10:16:28 AM PDT by grania
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