GERALD CELENTE BLOG: Detroit to Sell off City to Pay Bankers

Sunday, July 28, 2013

Detroit to Sell off City to Pay Bankers

Among all the helpful suggestions the Motor City has received during its slide into bankruptcy, selling off Belle Isle, a picturesque island park in the Detroit river, to a group of billionaires intent on creating a libertarian city-state ranks among the most outlandish.
Yet Rodney Lockwood, the local property developer who has been pushing his idea for a "Commonwealth of Belle Isle", is not alone in imagining there is value locked up in city-owned assets, which could be put up for sale to help pay creditors.

With a list of assets that ranges from 22 square miles of land, public utilities and infrastructure, and collections of animals and art, Detroit might seem a candidate for a municipal garage sale of historic proportions.
http://www.ft.com/cms/s/0/8fe06c02-f5...

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