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Thread: Detroit Files for Largest Municipal Bankruptcy in US History

  1. #31
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    Re: Detroit emergency manager files bankruptcy

    So this probably means those pensions will get slashed to nothing and a bunch of folks holding city bonds now have new toilet paper for the upstairs toilet.

    This is going to hurt up there, and as much as I think it's self-inflicted, I still feel for those folks. Scary.

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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by Erod View Post
    Next to file....the entire state of California.

    And yes, Obama will ask the red states to bail them out.
    ....Which? I'd love to know. These ones?



    The reality is a simple one. If a state is getting bailed out, the money will come from rich blue states.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Detroit emergency manager files bankruptcy

    Don't know masses about this particular issue but seem's a little harsh to blame this all on Obama, hasn't the city of Detroit has been in a decline since the 1970's?
    ‘This is not peace, it is an armistice for 20 years.’ (Ferdinand Foch. After the Treaty of Versailles, 1919).

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    Re: Detroit emergency manager files bankruptcy

    I hope they just liquidate the city...with fiery hot magma from the sky.

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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by Higgins86 View Post
    Don't know masses about this particular issue but seem's a little harsh to blame this all on Obama considering the city of Detroit has been in a decline since the 1970's.
    Shut'yet trap ya commie. St. Reagan can't be blamed for selling our country to the Chinese.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Detroit emergency manager files bankruptcy

    Gratz Libs

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    Re: Detroit emergency manager files bankruptcy

    Moderator's Warning:
    Detroit Files for Largest Municipal Bankruptcy in US HistoryThreads merged

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    Re: Detroit emergency manager files bankruptcy

    Sad to hear, although seemingly inevitable. The excitement that some have expressed at the news is even more disappointing.

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    Re: Detroit Files for Largest Municipal Bankruptcy in US History

    Quote Originally Posted by haymarket View Post
    A big reason Orr did this was that the major creditors and pension holders would not give in to his demands. I strongly hope and pray that the judge will see the very practical difference between major corporations who hold bonds with the city and people on pensions who pushed a broom or cleaned bathrooms or drove a bus for 35 years to get a small pension. The judge should treat the two very very differently.
    Sure, he'll see the vast majority of the U.S. that doesn't use cartel and monopolies (unions, government) and relies on 401Ks and the like instead. When they lose their money, taxpayers don't cover that bill, so fair is indeed fair.

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    Re: Detroit emergency manager files bankruptcy

    Quote Originally Posted by Higgins86 View Post
    Don't know masses about this particular issue but seem's a little harsh to blame this all on Obama, hasn't the city of Detroit has been in a decline since the 1970's?

    since the riots in 67

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