After swearing that there would be no bailout for Detroit, Michigan Governor Rick Snyder, aka One Tough Nerd, announced, guess what last week? A bailout!
It doesn't sound like a lot – only about $17 million every year for 20 years – about a third of the annual subsidies that fat-cat Hollywood producers receive from the state currently. The money will be given to the Detroit Institute of Arts to give to Detroit's pensioners, saving both.*
But Shikha Dalmia explains here what's wrong with this too-clever-by-half scheme.
* The DIA's Public Relations Director Pamela Marcil clarifies that none of the money comes to the DIA. The state and foundations are giving the money directly to the pensioners in lieu of selling the museum's art holdings.