Skip to comments.Detroit Judge to rule on Bankruptcy, Live....
Posted on 12/03/2013 7:21:08 AM PST by taildragger
Local Media is covering it on TV and Radio, the Judge is laying out the potential reasons for, local TV people noting what is going on, the Court is not live if you will, data must be coming to them via text etc...
A “Detriot Judge”? Does this person have a vested interest in the outcome?
Nothing yet, local Fox TV talking heads ( 2 News ) pontificating.....
Democrat, most likely...of course. Unions and government pensions shall be protected, taxpayers screwed. Nature takes its course.
No, he wrote quite a book on bankruptcy, seems to be held in high regard as a jurist...
No matter what is ruled, there still won’t be enough money.
There never is in a bankruptcy. That's kind of the point.
If the Detroit art museum is liquidated, there will be.
I have no legal background but would think that this will be an interesting decision with regard to its possible implications for other cities.
Also, how would this effect the taxing authority that was established in 2010?
Thanks for the link; posts. Very interesting.
Should be the first thing on the list to liquidate. A good lesson would be learned from having to do just that: living beyond your means has consequences.
Pivotal day for the municipal bond business I bet.
So, no way they will cut pensions and keep art...
Just wondering..anyone seen an attendance figures for the DIA?
Situations that can’t go on forever - don’t. Welcome to the start of New Detroit.
I haven’t seen any attendance numbers for the museum but I’m guessing its rising with the upscale population moving into downtown.
Roger Penske and others have proposed buying the art and keeping it on display in Detroit as a private enterprise.
Thanks again for the link; ping. Very interesting. Neo-plunder & reversing re-distribution. The new face of the two-faced. Let’s throw smore dollars at the D. Root cause not addressed.
Maybe hollyweird or other friends of the One could bail out the collection for the D. We can’t do it here in the mitt.
Yes and more so...
At lunch today with conservative friends I noted, for the last 5 years "Contract Law" via the GM Bankruptcy, the Silbilus Mandate and Obamacare has been eviscerated. Today was a modicum of sanity against this Obama tide. It was a good day IMHO....
The revenge of Meredith Whitney, she had to be "PC" about it, but one may wonder if she was primarily warning about Detwaa and it's like minded cities around the country. Tangent to this, how many Muni's are deep discounted today is the question....
Here is her chart of states that was in Forbes this past summer. Notice all the real growth is in tax free and or right to work Republican and Fracking States. They are carrying this country at the moment...
I don’t understand that map
how does it count pumping $12K extra per kid into government schools as a positive?
I heard on the news Emergency Manager Kevin Orr will address this situation post one of the main Art Auction Houses ( Soterby's? ) finishing up their appraisal / inventory next week....
It was a good day IMHO....
Savor the moment. There aren’t many these days. The country has gone mad. Totally mad.
Expect the federal government to soon establish some type of stealth bailout for cities. Our debt is only $17 trillion now so we’ve got plenty of financial headroom to do that. /sarc
Indiana has a higher credit rating than the United States.
So does ExxonMobil. And that’s probably why Warren Buffet just bought 1% of the company. Safer than U.S. debt.
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