Posted on 07/18/2013 3:00:40 PM PDT by whitedog57
Detroit has no tax base and no income to pay its pensioners. The State of Michigan won’t bail out Detroit and it’s unlikely that Feds can either. In other words, it’s time for Detroit to go into liquidation.
o pension cuts?
let the judge pay it
You will have the last word.
What about the division between workers, both public and private, and the Wall Street high rollers who gambled away 401ks and crashed the economy for all in 2008?
You’ll see what regular Joes are angry about.
Regular Joes are upset about ordinary people facing financial hardship or ruin, whether they're public or private employees, business owners, blue collar or white collar, young or old, black or white. What's the point of trying to pit people against each other in a zero sum game? Adjustments and "haircuts" may need to be made, but they need to be in a spirit of necessity, not a spirit of malice.
Let the people of Detroit eat hope and change. They’ve let their city become a cesspool.
Obama gives out Obamaphones to whoever will take them. Next will be prayer rug distribution to whoever will take them - or be made to take them.
Cities have functioned as a gigantic payoff machine for rat voters. If they are allowed to sink under the waves as they deserve, the rat will have to swim. The Rat party will lose its utility to its little rat voters. Can’t see it being allowed to happen. We’ll see. The Feds have already become more and more the nursing mother. Maybe that maintains the status quo until the nation collapses.
Who really unchained Wall Street?
For all the bluster of Obama, pre- and post-2008, as well as that of Attorney General Eric Holder concerning the alleged criminal activities on Wall Street, there have been zero Wall Street prosecutions under Obama/Holder. Compare that with his predecessors Bush and Clinton:
GAI [Government Accountability Institute] details how the George W. Bush and Bill Clinton administrations both actually took down financial criminals - unlike the Obama administration. Between 2002 and 2008, for instance, GAI points out how a Bush administration task force “obtained over 1,300 corporate fraud convictions, including those of over 130 corporate vice presidents and over 200 CEOs and corporate presidents.”
“Clinton’s DOJ prosecuted over 1,800 S&L (savings and loans) executives, senior officials, and directors, and over 1,000 of them were sent to jail,” GAI adds. But, despite having “promised more of the same,” especially in the wake of the 2008 financial crisis, the Obama administration’s DOJ has not brought criminal charges against a single major Wall Street executive. The Bush and Clinton administrations’ track records on prosecuting white-collar crime, and the Obama administration’s failure to do so, Schweizer said, is “evidence that this has less to do with some sort of partisan or philosophical issue.”
Bush - 1,300 convictions;
Clinton - 1,000 convictions;
Obama - Zero attempts.
http://www.americanthinker.com/blog/2012/08/who_really_unchained_wall_street.html
No One Will Charged With a Crime for the MF Global Collapse
http://news.yahoo.com/no-one-charged-crime-mf-global-collapse-111056124—finance.html?_esi=1
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