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Thread: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Deuce View Post
    No, the bankruptcy is a result of major economic and social shifts occurring over a period of several decades.
    Bankrupt in the sense that they have no money. The legal process is a result of the Unions refusing to negotiate, and you forgot to throw in "Democrat mismanagement and outright fraud in some cases."
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Unitedwestand13 View Post
    don't we owe the people who worked all their life, a pension? or do we give them a iou?



    That's basically what the US government gave the Social Security Administration when congress folded all of the Social Security cash in with all of the other US assets and spent it on fighting wars and etc.

    Of course the old folks might get their pensions eventually if the USA doesn't file for bankruptcy.

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    Well somebody is on the job protecting pensions and the rights of workers"

    Judge rules Detroit Chapter 9 bankruptcy filing unconstitutional

    Read more: Judge rules Detroit Chapter 9 bankruptcy filing unconstitutional
    Okay, I have a legitimate question. Detroit's $327,000,000 in the hole, resulting in their filing bankruptcy.

    There are 706,585 people living in Detroit.

    That's $463.00 per person.

    That's completely undoable? A special assessment of sorts?

    Another question: Are policemen, firemen, paramedics, teachers and all other Detroit public workers required to live in the city? If not? They should be. Chicago, Illinois has that requirement. It's the only thing that keeps the city alive.

    Anyone have answers?

    Edit: Wait!!! The $327 million is their deficit. Their debt is $18.4 billion. Holy crap. That's a different horse: that's $26,000 per resident.

    Never mind.
    Last edited by MaggieD; 07-19-13 at 07:24 PM.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Unitedwestand13 View Post
    don't we owe the people who worked all their life, a pension? or do we give them a iou?
    I worked all my life and don't have a pension. In fact, 7 of 10 private sector workers have no pension. Perhaps the union workers would like Detroit to squeeze blood out of a turnip??

    Here's what I think ought to happen: Each worker should get back every dime they've paid into their retirement program -- compounded at a certain %. Then, the City of Detroit should be forced to contribute both sides of Social Security and Medicare Taxes on their workers' behalf. (Paying both sides as a penalty for being assholes.)***

    This would put these public sector workers on the same footing that 70% of the private sector finds itself. After that? If they don't like the new arrangement? They can look for other jobs.

    ***Orrrrrrr, the whole mess is turned over to the Pension Benefit Guaranty Corporation (the U.S. government) and they pay out according to their formula -- just like the rest of the world.

    *Maggie dusts off her hands and pours herself a glass of wine*
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Sherman123 View Post
    One of the attorney's at our office used to work at a firm that had a lot of municipalities as clients and a few that went through bankruptcy proceedings. He claimed that this is more prone to occur at lower courts in states where Judges have closer ties to their communities and have less over-sight. It's rare for a city or town to actually have it's filings permanently blocked, and if you make it to the State Supreme Courts they almost always back the right of the city and state governments to proceed even if it is with caveats.

    This Judge in particular seems to be grandstanding: "Aquilina, a Democrat appointee, also ordered that a copy of her order be sent all the way to the White House, saying that President Obama "bailed out Detroit" and might want to take a closer look, reports the Free Press." (Detroit Bankruptcy Filing Unconstitutional, Must Be Withdrawn, Judge Orders)
    Sherm-dog, I just wanted to say I think you're a great asset t this forum.

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Deuce View Post
    No, the bankruptcy is a result of major economic and social shifts occurring over a period of several decades.
    While I agree with the above the failure of local politicians to change spending habits in response to these realities hardly absolves them, and the voters who put them into office, from blame.

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by LowDown View Post
    It doesn't matter whether they are included or not. There's no money to pay them. An orderly bankruptcy is more their favor than the chaos that will result without one.

    Eventually you run out of other people's money.
    Blasphemy!!!

    We never run out of other people's money.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Governments cannot declare bankruptcy IMHO, governments should always pay their way. If a company goes into business with individuals and/or companies he knows he always runs the risk of not getting paid due to bankruptcy risks, but a company should always be able to count on getting paid by government in any shape or form.

    Governments have to pay their way, always and in all situations and not weasel out by declaring bankruptcy.
    Former military man (and now babysitter of Donald Trump) John Kelly, is a big loud lying empty barrel!

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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Unitedwestand13 View Post
    and what about the people whose pensions are at risk? do we have to give them nothing?
    Life is a risk. You risk when you put money in a private fund, you risk when you trust a government to follow through with a promise. They lose, so freaking what. That's what they get for electing idiots over and over. Deal with it, just like the private sector does.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Dr. Chuckles View Post
    Sherm-dog, I just wanted to say I think you're a great asset t this forum.
    Aw, well thanks a lot Chuckles. Just relaying anothers opinion is all.

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