--- title: "Meaning & Key Takeaway of: Our bailout of Detroit will be remembered…" description: "\"Our bailout of Detroit will be remembered as the equivalent of pouring billions of taxpayers' money into the mail-order catalogue business on the eve o..." image: "https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png" --- # Our bailout of Detroit will be remembered as the… ![“Our bailout of Detroit will be remembered as the equivalent of pouring billions of taxpayers' money into the mail-order catalogue business on the eve of the birth of eBay.” quote by Thomas Friedman](https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png) [Download](https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png) [Open image](https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png) > “Our bailout of Detroit will be remembered as the equivalent of pouring billions of taxpayers' money into the mail-order catalogue business on the eve of the birth of eBay.” [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The bailout is likened to a futile investment that will become obsolete as new technology emerges. **In simple terms:** Investing in outdated systems wastes money. Key Takeaway Avoid investing in declining industries. Themes economics public policy technology risk history Mood cynical critical reflective Type political economic cautionary When to use this quote - government funding - urban redevelopment - private investment - technology adoption Key Concepts public finance technological disruption market cycles Questions to Reflect On - What alternative strategies could have been used? - How do we measure success of such bailouts? A Different Perspective The comparison may overlook potential long‑term benefits of stabilization. ★ ★ ★ ★ ★ No ratings yet [Bailout Detroit](https://sms4smile.com/quotes/about/bailout-detroit-2335615/) [Bailouts](https://sms4smile.com/quotes/about/bailouts/) [Billions](https://sms4smile.com/quotes/about/billions/) [Billions Taxpayers](https://sms4smile.com/quotes/about/billions-taxpayers-2335617/) [Birth](https://sms4smile.com/quotes/about/birth/) [Business](https://sms4smile.com/quotes/about/business/) [Business Eve](https://sms4smile.com/quotes/about/business-eve-2335618/) [Catalogues](https://sms4smile.com/quotes/about/catalogues/) [Detroit](https://sms4smile.com/quotes/about/detroit/) [Detroit Remembered](https://sms4smile.com/quotes/about/detroit-remembered-2335616/) [Ebay](https://sms4smile.com/quotes/about/ebay/) [Mail](https://sms4smile.com/quotes/about/mail/) [Money](https://sms4smile.com/quotes/about/money/) [Order](https://sms4smile.com/quotes/about/order/) [Pouring](https://sms4smile.com/quotes/about/pouring/) [Remembered](https://sms4smile.com/quotes/about/remembered/) [Taxpayers](https://sms4smile.com/quotes/about/taxpayers/) ## Related quotes > [Governor Romney supported the bailout of Wall Street and decided not to support the bailout of Detroit.](https://sms4smile.com/quotes/rick-santorum/governor-romney-supported-the-bailout-of-wall-street-and-decided-not/) [Rick Santorum](https://sms4smile.com/quotes/author/rick-santorum/) > [If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye.…](https://sms4smile.com/quotes/mitt-romney/if-general-motors-ford-and-chrysler-get-the-bailout-that-their-chief/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [We are living in a time when the very integrity of the Constitution is being threatened daily, from federal bailouts to federal assumption of…](https://sms4smile.com/quotes/david-limbaugh/we-are-living-in-a-time-when-the-very-integrity-of-the-constitution/) [David Limbaugh](https://sms4smile.com/quotes/author/david-limbaugh/) > [Do you realize that the 850 billion dollar bank bailout, that sum of money is greater than the entire 50 year running budget of…](https://sms4smile.com/quotes/neil-degrasse-tyson/do-you-realize-that-the-850-billion-dollar-bank-bailout-that-sum-of/) [Neil deGrasse Tyson](https://sms4smile.com/quotes/author/neil-degrasse-tyson/) > [We should not be borrowing money from the Chinese to bail out the Greeks. What's coming next? Intergalactic bailouts?](https://sms4smile.com/quotes/jeb-hensarling/we-should-not-be-borrowing-money-from-the-chinese-to-bail-out-the/) [Jeb Hensarling](https://sms4smile.com/quotes/author/jeb-hensarling/) > [Anyone believing the TPP is good for Americans take note: The foreign subsidiaries of U.S.-based corporations could just as easily challenge any U.S. government…](https://sms4smile.com/quotes/robert-reich/anyone-believing-the-tpp-is-good-for-americans-take-note-the-foreign/) [Robert Reich](https://sms4smile.com/quotes/author/robert-reich/) > [I didn't know you were Catholic.](https://sms4smile.com/quotes/nancy-pelosi/i-didn-t-know-you-were-catholic/) [Nancy Pelosi](https://sms4smile.com/quotes/author/nancy-pelosi/) > [At some point the Japanese, Chinese and Saudi buyers of US and European Government bonds will see just what miserable value they offer. Then…](https://sms4smile.com/quotes/luke-johnson/at-some-point-the-japanese-chinese-and-saudi-buyers-of-us-and/) [Luke Johnson](https://sms4smile.com/quotes/author/luke-johnson/) > [The government - the ultimate short-term-oriented player - cannot withstand much pain in the economy or the financial markets. Bailouts and rescues are likely…](https://sms4smile.com/quotes/seth-klarman/the-government-the-ultimate-short-term-oriented-player-cannot/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [I do know that all of the Michigan delegation worked very hard as related to the revival of the auto industry. There was really…](https://sms4smile.com/quotes/fred-upton/i-do-know-that-all-of-the-michigan-delegation-worked-very-hard-as/) [Fred Upton](https://sms4smile.com/quotes/author/fred-upton/) > [Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after…](https://sms4smile.com/quotes/thomas-sowell/financial-institutions-are-not-being-bailed-out-as-a-favor-to-them-or/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [I dont know of one group of people thats more disliked than politicians -- it may be the folks who gave us the Wall…](https://sms4smile.com/quotes/rick-santorum/i-dont-know-of-one-group-of-people-thats-more-disliked-than/) [Rick Santorum](https://sms4smile.com/quotes/author/rick-santorum/) > [The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially…](https://sms4smile.com/quotes/nouriel-roubini/the-treasury-plan-is-a-disgrace-a-bailout-of-reckless-bankers-lenders/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive…](https://sms4smile.com/quotes/llewellyn-rockwell/repeal-the-entire-banking-act-of-1933-and-austrian-school-economists/) [Llewellyn Rockwell](https://sms4smile.com/quotes/author/llewellyn-rockwell/) > [Mother Nature does not do bailouts.](https://sms4smile.com/quotes/al-gore/mother-nature-does-not-do-bailouts/) [Al Gore](https://sms4smile.com/quotes/author/al-gore/) ## More by Thomas Friedman > [I'm pretty much an open book. I am a fanatic golfer and golf nut. If I have three free hours any day, my first…](https://sms4smile.com/quotes/thomas-friedman/i-m-pretty-much-an-open-book-i-am-a-fanatic-golfer-and-golf-nut-if-i/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [The financial crisis just made the hole deeper, which is why our stimulus needs to be both big and smart, both financially and educationally…](https://sms4smile.com/quotes/thomas-friedman/the-financial-crisis-just-made-the-hole-deeper-which-is-why-our/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Many jobs at Google require math, computing, and coding skills, so if your good grades truly reflect skills in those areas that you can…](https://sms4smile.com/quotes/thomas-friedman/many-jobs-at-google-require-math-computing-and-coding-skills-so-if/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Never before in the history of the planet have so many people, on their own, had the ability to find so much information about…](https://sms4smile.com/quotes/thomas-friedman/never-before-in-the-history-of-the-planet-have-so-many-people-on/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [When I was growing up, my parents told me, 'Finish your dinner. People in China and India are starving.' I tell my daughters, 'Finish…](https://sms4smile.com/quotes/thomas-friedman/when-i-was-growing-up-my-parents-told-me-finish-your-dinner-people-in/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Hillary Clinton has decided to line up with John McCain in pushing to suspend the federal excise tax on gasoline, 18.4 cents a gallon,…](https://sms4smile.com/quotes/thomas-friedman/hillary-clinton-has-decided-to-line-up-with-john-mccain-in-pushing-to/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Two things are going on at the same time with the flattening of the world: The relentless quest for efficiency is squeezing some of…](https://sms4smile.com/quotes/thomas-friedman/two-things-are-going-on-at-the-same-time-with-the-flattening-of-the/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Our president's latest energy initiative was to go to Saudi Arabia and beg King Abdullah to give us a little relief on gasoline prices.…](https://sms4smile.com/quotes/thomas-friedman/our-president-s-latest-energy-initiative-was-to-go-to-saudi-arabia/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [I don't think the Arab Spring had much to do with energy. I think it was just the opposite, in fact. I think the…](https://sms4smile.com/quotes/thomas-friedman/i-don-t-think-the-arab-spring-had-much-to-do-with-energy-i-think-it/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Until we fully understand what turned two brothers who allegedly perpetrated the Boston Marathon bombings into murderers, it is hard to make any policy…](https://sms4smile.com/quotes/thomas-friedman/until-we-fully-understand-what-turned-two-brothers-who-allegedly/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Geopolitics is all about leverage. We cannot make ourselves safer abroad unless we change our behavior at home.](https://sms4smile.com/quotes/thomas-friedman/geopolitics-is-all-about-leverage-we-cannot-make-ourselves-safer/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Big breakthroughs happen when what is suddenly possible meets what is desperately needed](https://sms4smile.com/quotes/thomas-friedman/big-breakthroughs-happen-when-what-is-suddenly-possible-meets-what-is/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [That's right-the striking thing about greenhouse gases is the diversity of sources that emit them. A herd of cattle belching can be worse than…](https://sms4smile.com/quotes/thomas-friedman/that-s-right-the-striking-thing-about-greenhouse-gases-is-the/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [There is something more severe than the problem with Thomas Friedman, which can be generalized to represent someone causing action while being completely unaccountable…](https://sms4smile.com/quotes/thomas-friedman/there-is-something-more-severe-than-the-problem-with-thomas-friedman/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) > [Pessimists are usually right and optimists are usually wrong but all the great changes have been accomplished by optimists.](https://sms4smile.com/quotes/thomas-friedman/pessimists-are-usually-right-and-optimists-are-usually-wrong-but-all/) [Thomas Friedman](https://sms4smile.com/quotes/author/thomas-friedman/) [Explore all 208 Thomas Friedman quotes ](https://sms4smile.com/quotes/author/thomas-friedman/) ## More Bailouts quotes > [Mother Nature does not do bailouts.](https://sms4smile.com/quotes/al-gore/mother-nature-does-not-do-bailouts/) [Al Gore](https://sms4smile.com/quotes/author/al-gore/) > [Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive…](https://sms4smile.com/quotes/llewellyn-rockwell/repeal-the-entire-banking-act-of-1933-and-austrian-school-economists/) [Llewellyn Rockwell](https://sms4smile.com/quotes/author/llewellyn-rockwell/) > [The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially…](https://sms4smile.com/quotes/nouriel-roubini/the-treasury-plan-is-a-disgrace-a-bailout-of-reckless-bankers-lenders/) [Nouriel Roubini](https://sms4smile.com/quotes/author/nouriel-roubini/) > [I dont know of one group of people thats more disliked than politicians -- it may be the folks who gave us the Wall…](https://sms4smile.com/quotes/rick-santorum/i-dont-know-of-one-group-of-people-thats-more-disliked-than/) [Rick Santorum](https://sms4smile.com/quotes/author/rick-santorum/) > [Financial institutions are not being bailed out as a favor to them or their stockholders. In fact, stockholders have come out worse off after…](https://sms4smile.com/quotes/thomas-sowell/financial-institutions-are-not-being-bailed-out-as-a-favor-to-them-or/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [I do know that all of the Michigan delegation worked very hard as related to the revival of the auto industry. There was really…](https://sms4smile.com/quotes/fred-upton/i-do-know-that-all-of-the-michigan-delegation-worked-very-hard-as/) [Fred Upton](https://sms4smile.com/quotes/author/fred-upton/) > [If General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye.…](https://sms4smile.com/quotes/mitt-romney/if-general-motors-ford-and-chrysler-get-the-bailout-that-their-chief/) [Mitt Romney](https://sms4smile.com/quotes/author/mitt-romney/) > [The government - the ultimate short-term-oriented player - cannot withstand much pain in the economy or the financial markets. Bailouts and rescues are likely…](https://sms4smile.com/quotes/seth-klarman/the-government-the-ultimate-short-term-oriented-player-cannot/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [At some point the Japanese, Chinese and Saudi buyers of US and European Government bonds will see just what miserable value they offer. Then…](https://sms4smile.com/quotes/luke-johnson/at-some-point-the-japanese-chinese-and-saudi-buyers-of-us-and/) [Luke Johnson](https://sms4smile.com/quotes/author/luke-johnson/) > [I didn't know you were Catholic.](https://sms4smile.com/quotes/nancy-pelosi/i-didn-t-know-you-were-catholic/) [Nancy Pelosi](https://sms4smile.com/quotes/author/nancy-pelosi/) > [Anyone believing the TPP is good for Americans take note: The foreign subsidiaries of U.S.-based corporations could just as easily challenge any U.S. government…](https://sms4smile.com/quotes/robert-reich/anyone-believing-the-tpp-is-good-for-americans-take-note-the-foreign/) [Robert Reich](https://sms4smile.com/quotes/author/robert-reich/) > [We should not be borrowing money from the Chinese to bail out the Greeks. What's coming next? Intergalactic bailouts?](https://sms4smile.com/quotes/jeb-hensarling/we-should-not-be-borrowing-money-from-the-chinese-to-bail-out-the/) [Jeb Hensarling](https://sms4smile.com/quotes/author/jeb-hensarling/) > [Do you realize that the 850 billion dollar bank bailout, that sum of money is greater than the entire 50 year running budget of…](https://sms4smile.com/quotes/neil-degrasse-tyson/do-you-realize-that-the-850-billion-dollar-bank-bailout-that-sum-of/) [Neil deGrasse Tyson](https://sms4smile.com/quotes/author/neil-degrasse-tyson/) > [We are living in a time when the very integrity of the Constitution is being threatened daily, from federal bailouts to federal assumption of…](https://sms4smile.com/quotes/david-limbaugh/we-are-living-in-a-time-when-the-very-integrity-of-the-constitution/) [David Limbaugh](https://sms4smile.com/quotes/author/david-limbaugh/) > [We're calling for that bailout for young people in order to jumpstart the economy of our future.](https://sms4smile.com/quotes/jill-stein/we-re-calling-for-that-bailout-for-young-people-in-order-to-jumpstart/) [Jill Stein](https://sms4smile.com/quotes/author/jill-stein/) [Browse all 42 Bailouts quotes ](https://sms4smile.com/quotes/about/bailouts/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "Our bailout of Detroit will be remembered as the equivalent of pouring billions of taxpayers' money into the mail-order catalogue business on the eve of the birth of eBay.", "creator": { "@type": "Person", "name": "Thomas Friedman" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/thomas-friedman/our-bailout-of-detroit-will-be-remembered-as-the-equivalent-of/", "about": { "@type": "Thing", "name": "Bailouts" }, "@id": "https://sms4smile.com/quotes/thomas-friedman/our-bailout-of-detroit-will-be-remembered-as-the-equivalent-of/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png", "contentUrl": "https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png", "url": "https://sms4smile.com/quotes/i/e45/thomas-friedman-1784_bailouts_our-bailout-of-detroit-will-be-remembere_1028460.png", "width": 1080, "height": 1080, "caption": "“Our bailout of Detroit will be remembered as the equivalent of pouring billions of taxpayers' money into the…” — Thomas Friedman", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Thomas Friedman", "item": "https://sms4smile.com/quotes/author/thomas-friedman/" }, { "@type": "ListItem", "position": 4, "name": "Our bailout of Detroit will be...", "item": "https://sms4smile.com/quotes/thomas-friedman/our-bailout-of-detroit-will-be-remembered-as-the-equivalent-of/" } ], "@id": "https://sms4smile.com/quotes/thomas-friedman/our-bailout-of-detroit-will-be-remembered-as-the-equivalent-of/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```