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Chicago is the next Detroit


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#11 stocks

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Posted 15 September 2019 - 05:47 AM

Will Chicago Be the Largest U.S. City to Declare Bankruptcy?  

 

One thing is certain: a filing of bankruptcy will totally eliminate the leverage of machine politicians to bilk the public. The machine has been in decline for at least 3 decades, but remnants of the old Daley coalition survived. But there's no hiding anymore. The machine has to go if the city is to recover and thrive again.

 
I have my doubts whether Mayor Lightfoot could do what needs to be done. The powers that be are just too entrenched. It's not only politicians, it's bloodsucking businessmen, organized crime, and now street gangs who also get a cut of the action. This is the way the "City that works" has worked for more than 90 years.
 

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Defenders of the status quo are always stronger than reformers seeking change, 
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.