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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 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
    Not surprising. I'm not sure if a government itself can declare bankruptcy.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by Sherman123 View Post
    My understanding was that this was expected to happen in the lower courts, but that eventually this would be overturned as it made its way to higher courts.
    If government can declare bankruptcy, then there's nothing preventing the federal government from reneging on its debts.
    You know the time is right to take control, we gotta take offense against the status quo

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

    Quote Originally Posted by MaggieD View Post
    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.

    there is no longer a residency law for city employees. never was for teachers.

    The 18 billion is a ridiculously inflated number based on obligation decades in the future without considering revenues in the future. As such it is completely one sided and absurd.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by haymarket View Post
    there is no longer a residency law for city employees. never was for teachers.

    The 18 billion is a ridiculously inflated number based on obligation decades in the future without considering revenues in the future. As such it is completely one sided and absurd.
    you mean their debt is calculated the way real people properly calculate debt?.... imagine that.

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

    Quote Originally Posted by haymarket View Post
    there is no longer a residency law for city employees. never was for teachers.

    The 18 billion is a ridiculously inflated number based on obligation decades in the future without considering revenues in the future. As such it is completely one sided and absurd.
    Haymarket, this sounds suspiciously like the Hostess bakers. Is this union propaganda? Where are you getting this information?
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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
    Expected, but it will eventually be overruled. The city has no money to pay anyone, telling them they can't declare bankruptcy is pointless.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    this is what happens when the takers outnumber the givers... democratic Detroit ran out of pockets to pick to fund their municipal trough and the unions appear to have dug their own graves.

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

    Quote Originally Posted by haymarket View Post
    there is no longer a residency law for city employees. never was for teachers.

    The 18 billion is a ridiculously inflated number based on obligation decades in the future without considering revenues in the future. As such it is completely one sided and absurd.
    So are you saying that the guy directing Detroit's finances is a crook. He just doesn't want to pay creditors and workers on pensions.

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

    Quote Originally Posted by MaggieD View Post
    Haymarket, this sounds suspiciously like the Hostess bakers. Is this union propaganda? Where are you getting this information?
    The 18 billion takes in future pension payments that will occur monthly over many many many years. As such, it is NOT money owned right now.
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    re: Judge rules Detroit bankruptcy filing UNCONSTITUTIONAL[W:584]

    Quote Originally Posted by washunut View Post
    So are you saying that the guy directing Detroit's finances is a crook. He just doesn't want to pay creditors and workers on pensions.
    Wanting to rid the city of its pension obligations is one of his goals.
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    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

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