[Dresden Mayor Ingolf] Rossberg reached a deal in March to sell Dresden's entire stock of 48,000 city-owned apartments to an American private equity firm, the Fortress Investment Group, for $1.2 billion. In a single stroke, Dresden wiped out its burdensome public debt. (New York Times, Friday)
Let the free market work!
FEE Timely Classic
Privatization: The Rediscovery of Entrepreneurship by William H. Peterson