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Author Topic: Detroit filed for bankruptcy  (Read 5410 times)

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Offline Predator Don

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Detroit filed for bankruptcy
« on: July 18, 2013, 07:05:37 PM »
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Offline Glock32

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Re: Detroit filed for bankruptcy
« Reply #1 on: July 18, 2013, 08:04:19 PM »
When can we expect the Federal bailouts? You know, so the rest of the country can pick up the tab for the asinine policies that come from decades of uninterrupted rule by Democrats?
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Online Pandora

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Re: Detroit filed for bankruptcy
« Reply #2 on: July 18, 2013, 09:00:18 PM »
Quote from: Predator Don on July 18, 2013, 07:05:37 PM
Wow, here is a surprise.....(sarc)

http://xfinity.comcast.net/articles/news-general/20130718/US-Detroit-Bankruptcy/

Soon to be followed by several states, starting with California.
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Offline trapeze

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Re: Detroit filed for bankruptcy
« Reply #3 on: July 18, 2013, 11:06:19 PM »
So there is going to be no bailout? I couldn't be more surprised or more pleased. If it turns out to be true. Time will tell.

It does seem unlikely that the Democrats will not push a bailout through with a midterm coming up in a little over a year.

I mean...these are the people who bailed out GM/Chrysler. And it's not like it's their money, after all. I just don't see the downside for them. They could say that they are doing it for the children. That seems to work for everything else.

It sure doesn't look like they are going to be able to prosecute Zimmerman for civil rights violations or anything else so letting Detroit (and, more importantly, the public union pensions) go down the toilet is just throwing more fuel on the fire that is a pissed off lefty base.

I just can't figure it out. Doesn't make a bit of sense to me. There must be a Democrat "strategy" here but I don't see it.

Nevertheless, I do sincerely hope that Detroit is allowed to go bankrupt. It will be nice to see the fallout.
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Offline LadyVirginia

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Re: Detroit filed for bankruptcy
« Reply #4 on: July 18, 2013, 11:27:41 PM »
Quote from: trapeze on July 18, 2013, 11:06:19 PM
...I do sincerely hope that Detroit is allowed to go bankrupt. It will be nice to see the fallout.

Yes.

It would be a handy lesson to have in mind as the rest come down too.
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Offline Glock32

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Re: Detroit filed for bankruptcy
« Reply #5 on: July 18, 2013, 11:30:30 PM »
I say just cede it to Canada. Or might that be considered an act of war?
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RickZ

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Re: Detroit filed for bankruptcy
« Reply #6 on: July 19, 2013, 05:47:35 AM »
Detroit goes bankrupt -- union members hardest hit.  And rightly so.  If Detroit can lead the way, via bankruptcy, to get rid of all the sweetheart pension obligations and the very expensive current work contracts, it can set a righteous trend.

But I expect Owebama to demand a bailout for Detroit because . . . RACIST!  The eGOPs will be afraid of losing in 2014 so they'll vote for it, as not only the fiscally conservative thing to so, but the moral thing to do as well.  More legislation without representation.
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Re: Detroit filed for bankruptcy
« Reply #7 on: July 19, 2013, 07:51:52 AM »
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Online IronDioPriest

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Re: Detroit filed for bankruptcy
« Reply #8 on: July 19, 2013, 11:47:34 AM »
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Offline LadyVirginia

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Re: Detroit filed for bankruptcy
« Reply #9 on: July 19, 2013, 12:43:46 PM »
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Offline Libertas

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Re: Detroit filed for bankruptcy
« Reply #10 on: July 19, 2013, 02:13:22 PM »
If they attempt to bail them out we should get as many taxpayers as possible to join a class action suit challenging it...no way can they print money or digitize enough wealth to avoid not raising our taxes and eroding our monetary base...

Screw 'em.
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Offline Predator Don

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Re: Detroit filed for bankruptcy
« Reply #11 on: July 19, 2013, 03:18:42 PM »
Listening to the radio today, talking on the bankruptcy..... 58 minutes for police to respond. 9% of crimes solved.( or 91% unsolved, I can't decide which sounds worse)  40% of streetlights do not work. Half the ambulances broken down. No money to demolish all the uninhabited buildings. Highest per capita income before dem control. It was a long list.

Dem rule since 1961. Republicans didn't lose California until the mid 1980's, so maybe they can cripple along for a few more years, but I think the new amnesty plan will doom them sooner than later.

I can't imagine the unions not getting some sort of deal and any bondholders will get screwed again.
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Offline Glock32

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Re: Detroit filed for bankruptcy
« Reply #12 on: July 19, 2013, 05:18:28 PM »
Oh this just keeps on getting better. A Michigan judge has quashed Detroit's bankruptcy and said it would be unconstitutional, and that it's "also not honoring the president".

This judge seems to be asserting that any pension plan by the state or political sub-entity is a taxpayer obligation, in other words that the irresponsible voters of Detroit have the right to lay a claim on the rest of Michigan's taxpayers and put them on the hook for pension agreements they had no say in, negotiated by a city they were not citizens of.

The civil war that's coming is going to blow up on any number of different flashpoints. I can think of at least a dozen issues that could spark one all by their lonesome, let alone in combination.

http://minx.cc/?post=341790
 
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Online Pandora

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Re: Detroit filed for bankruptcy
« Reply #13 on: July 19, 2013, 06:09:06 PM »
Not "honoring the president"?  You GOT to be sh*ttin' me.  I have no idea where I live.  None.
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Online IronDioPriest

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Re: Detroit filed for bankruptcy
« Reply #14 on: July 19, 2013, 07:11:58 PM »
Quote from: Pandora on July 19, 2013, 06:09:06 PM
...I have no idea where I live.  None.

That's the short-term goal.
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Offline Septugenarian

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Re: Detroit filed for bankruptcy
« Reply #15 on: July 19, 2013, 08:36:53 PM »
Don -  I must have been listening to the same guy today.  Yes, Detroit was quite healthy up 'til 1960.  It had one of the highest per capita incomes in the country.  Then they elected Coleman Young and the slide began.  Actually, maybe I should have said "looting".

Glock - That county judge was told he had no role to play in a federal issue.  We'll see.
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Offline LadyVirginia

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Re: Detroit filed for bankruptcy
« Reply #16 on: July 19, 2013, 09:04:25 PM »
sooooooooooo if you stop the bankruptcy proceeding Detroit will be able to keep making payouts offs???
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Offline Glock32

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Re: Detroit filed for bankruptcy
« Reply #17 on: July 19, 2013, 09:17:15 PM »
Quote from: Pandora on July 19, 2013, 06:09:06 PM
Not "honoring the president"?  You GOT to be sh*ttin' me.  I have no idea where I live.  None.

Oh yeah, and she's going to "make sure he gets a copy" of her ruling too, because she "knows he's watching this". Ace has it right in his commentary at that link. They have this childlike concept of Obama, like he's Santa Claus and can just make things happen with pure f**kin' magic.



Looks to me like another Wise Latina angling for a Federal judgeship appointment.
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Offline Alphabet Soup

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Re: Detroit filed for bankruptcy
« Reply #18 on: July 19, 2013, 10:54:24 PM »
Keeping it on artificial respiration and running up the tab is an appropriate way to honor the pResident  ;)
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Offline Glock32

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Re: Detroit filed for bankruptcy
« Reply #19 on: July 20, 2013, 12:06:12 AM »
I also heard some jibbering idiots on a political news show trying to lay the blame for Detroit's woes at the feet of the New South. Why, it's all those damned Southern states paying lower wages and drawing capital and industry away from Detroit.

It never ceases to amaze me just how fixed the Liberal's mind is, for all their ostentatious puffery about being forward thinking and dynamic. If American industry was in the Rust Belt, then it must always be in the Rust Belt. If the climate is this way during the tiny window of time that we've recorded it, then it must always be that way. This is why all their social and political prescriptions are guaranteed to be tyrannical. They go against the dynamism of the human condition, and so they employ coercive tactics to keep things static.
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