jpmorgan to exit physical commodity business, page-21

"Infose your Uncle Sam already bankrupted many times!
They can't even bail out Detroit"

Really? How do you know that?

Anyway, to my understanding Uncle Sam cannot go bankrupt, it can only default.

Although I have not yet been able to talk to Obama, his secretary has just informed me that the reasons why his boss refused to help Detroit were the same reasons that lead president Ford to say to NY City, at a time that America was not 'bankrupted': CITY, DROP DEAD.

According to that same secretary those reasons where:

1) Not representing a systemic risk.

2) And wishing to send the massage that hubris will be treated with suffering and punishment.

http://en.wikipedia.org/wiki/Systemic_risk

http://en.wikipedia.org/wiki/Hubris