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Transcripts For FOXNEWSW Cashin In 20130727

Eric welcome to cashin in, wayne rogers jeonth noenig and jehmu greene and do you remember this. Rerefuse to let detroit go bankrupt. I bet on American Ingenuity and three years later that bet is paying off in a big way. Detroit went bankrupt despite the bailout and before our cashin in city council pipes in, what brought 79 mighty motown. World leader in auto manufacturing. Jobs were plentiful. Detroit economy was hot. And enter collective bargaining and unions begin to flex their muscles. In 1970, 400,000 gm workers walked off the auto lines for 67 days. They got what they wanted, a huge wage hike and big concessions. That single event helped seal the fate. Motor city. Over the next four decades, it drove the Auto Industry away. Jobs went to nonunion states. The ones vibrant economy is now 18 billion in the hole and unemployment sits at a mindblowing 16. 3 . Detroit is bankrupt. Largest u. S. System to go bankrupt in our country. Its perfect example when Union Demands prevails. We ar

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