Tuesday, May 28, 2013

Should Detroit Bail Out By Selling Van Gogh? - NPR

 
The city of Detroit owes billions of dollars to creditors. Now, the city's emergency manager is trying to figure out how much the city's assets are worth, including pieces at the Detroit Institute of Arts by painters like Van Gogh, Matisse, and Warhol.
 
To answer the question posed by the article's title, absolutely yes, the city of Detroit should sell their art collection to pay their debt.  If I owed my creditors tons of money then the first thing I would be expected to do by society is to sell off my luxury assets.  I would have no business owning a fine art collection if I couldn't pay my rent or feed my family or meet other financial obligations.

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