Big finance is strangling innovation

By Trent Hamm ,Guest blogger / July 26, 2013 An Outsource to Detroit banner from Galaxe.Solutions is seen on a Detroit building. Detroits bankruptcy is a sad phenomenon, Hamm writes, but its something that all of us can learn from. Carlos Osorio/AP/File Enlarge If youve been following the news this week, youve heard that the city of Detroit has filed for bankruptcy . The city is holding $11.5 billion in unsecured debt, the repayment of which has the city in such a deep financial hole that they cant keep up with the basic maintenance of the facilities they already have.

She is cofounder of Recessionwire, founding editor of New Deal 2.0, and author of Reading the Sphinx: Ancient Egypt in Nineteenth-Century Literary Culture. She received her Ph.d in English and Cultural Theory from NYU, where she has taught essay writing and semiotics. She is the Director of AlterNets New Economic Dialogue Project. Follow her on Twitter @LynnParramore. Next Sponsored Post White River National Forest via Lower Crystal Lake, Colorado For those OK with the mainstream, White River Forest welcomes more than 10 million visitors a year, making it the most-visited recreation forest in the nation.

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