06 October 2014

Avoiding A Maelstrom In Detroit? Or Sucking Up To the Rich and Powerful?

Why not try to sell Detroit's art collection to raise money to pay the city's debts? According to Emergency Manager Kevyn Orr, " it would greatly harm a city museum and cause turmoil in the community, especially among powerful, wealthy patrons." (Read account here.)

Upsetting wealthy patron?! Of course not, What could creditors left with billions unpaid have been thinking?

More seriously, there are other, more appropriate reasons why Detroit can choose not to "monetize" its art collection, although none ultimately persuade me. But even to suggest that fear of "powerful patrons" suggests that Detroit's mindset remains more like a banana republic than a model of financial probity.

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