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City officials: Detroit will go broke in a week if consent deal lawsuit isn't withdrawn
Detroit Free Press | June 8, 2012 | Suzette Hackney & Matt Helms

Posted on 06/08/2012 8:42:45 AM PDT by upchuck

Link only due to copyright complaint: http://www.freep.com/article/20120608/NEWS01/120608025/1001/rss01


TOPICS: Crime/Corruption; Culture/Society; Government; Politics/Elections; US: Michigan
KEYWORDS: detroit; michigan

1 posted on 06/08/2012 8:42:54 AM PDT by upchuck
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To: upchuck

FREEP.com


2 posted on 06/08/2012 8:45:55 AM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: upchuck

The story is overblown. It is only because the city council did not give enough notice of a meeting in which it planned to approve a bond.

Story should read, Because council did not provide the public with adequate notice of its meeting, it may find itself in a financial pinch due. By failing to post notice of the meeting in a timely manner, the city council is not able to take action on a bond needed to fund the city.

It actually is already broke. It just had not run out of the ability to borrow to hide the fact.


3 posted on 06/08/2012 8:46:42 AM PDT by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
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To: upchuck

Detroit’s a city based on every stupid liberal idea ... let them go broke... Time to show the nation ideas have consequences... bad ideas produce places like Detroit.


4 posted on 06/08/2012 8:46:58 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: upchuck
DEMOCRATS!
Know
Best

5 posted on 06/08/2012 8:47:36 AM PDT by upchuck (Need is not an acceptable lifestyle choice; dependent is not a career. ~ Dr. Tim Nerenz)
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To: Springman; sergeantdave; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; ...
An emergency manager is the only way out of this mess as far as I can tell.

Image Hosted by ImageShack.us
6 posted on 06/08/2012 8:48:25 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: upchuck

http://www.freep.com/article/20120608/NEWS01/120608025/1001/rss01


7 posted on 06/08/2012 8:52:51 AM PDT by houeto (https://secure.freerepublic.com/donate/)
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To: gunsequalfreedom
It actually is already broke. It just had not run out of the ability to borrow to hide the fact.

True, the fact is that many American cities are still borrowing and following Detroit down the same path.
8 posted on 06/08/2012 8:54:46 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: gunsequalfreedom

Personally, I’m gonna pop up some popcorn...Nothing I’d like to see more than a force of corrupt cops tryting to quell a city full of leeches.


9 posted on 06/08/2012 8:56:01 AM PDT by Gaffer
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To: gunsequalfreedom
They need to bring in OCP.


10 posted on 06/08/2012 8:58:28 AM PDT by dfwgator
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To: upchuck; mickie
If the city's by-laws or charter doesn't have a provision for emergency meetings with 24 or 48 hours notice to the public, then something is wrong...or this is BS.

Having held public office, I was aware there's always a provision for emergency meetings in public entities. It covers drastic weather emergencies, disaster emergencies, financial emergencies, riot emergencies, whatever.

I lean toward BS in this case. Watch the whole drama dissolve quickly with an existing solution.

Leni

11 posted on 06/08/2012 9:03:41 AM PDT by MinuteGal
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To: Gaffer

yep, the saddest thing in the world is a mosquito trying to suck blood from a mummy....looks similar


12 posted on 06/08/2012 9:07:46 AM PDT by aces
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To: upchuck

Successful parasites don’t kill the host.


13 posted on 06/08/2012 9:10:57 AM PDT by Menehune56 ("Let them hate so long as they fear" Oderint Dum Metuant), Lucius Accius, (170 BC - 86 BC))
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To: upchuck

Indeed see California.


14 posted on 06/08/2012 9:49:45 AM PDT by Vaduz
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To: upchuck

Maybe Hard Core Pawn can help them out.Its income is probably better than the city’s.


15 posted on 06/08/2012 9:59:39 AM PDT by luvbach1 (Stop the destruction in 2012 or continue the decline)
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To: upchuck

Maybe Obama can send them some money from his “stash.”


16 posted on 06/08/2012 10:18:01 AM PDT by rightwingintelligentsia (Be careful of believing something just because you want it to be true.)
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To: gunsequalfreedom
...the city council is not able to take action on a bond needed to fund the city.
It actually is already broke. It just had not run out of the ability to borrow to hide the fact.

Who the hell would lend a bankrupt city MORE money? The interest rate must be astronomical, and Detroit assumes that the National (working) taxpayer will pick up the future tab.

When you are in a financial hole so deep that you can't be seen, borrowing more money becomes a crime. For most of us mortals, anyway.

17 posted on 06/08/2012 10:36:03 AM PDT by publius911 (Formerly Publius 6961, formerly jennsdad)
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To: cripplecreek; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...

Thanks cripplecreek.


18 posted on 06/08/2012 5:52:09 PM PDT by SunkenCiv (There are more false flag operations on FR than there are in Syria (where the number is near zero).)
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To: cripplecreek; MinuteGal; GOPJ; All
Detroit’s a city based on every stupid liberal idea ... let them go broke... Time to show the nation ideas have consequences... bad ideas produce places like Detroit.

Thanks for the ping; your insight/post; your quote (above) worth repeating.

19 posted on 06/08/2012 7:33:43 PM PDT by PGalt
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To: MinuteGal; All
If you read the article very carefully you find the quite well hidden meat of the lawsuit, and it wasn't just the posting of the meeting in advance.

Those that filed the suit claim the city charter forbids the city to enter into an agreement for services with any entity that is in default with the city.

They are claiming that the state is in default to the city for revenue sharing or some such crap.

It looks to me like liberals in city government think they have found a way to get out of the agreed to cuts.

In my opinion what they will do is force the state to appoint an EFM and take over the whole damn city.

The city government didn't get in such shape by being run by the sharpest tools in the shed.

20 posted on 06/09/2012 5:10:17 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: upchuck

“I can see my house from here!!!”


21 posted on 06/09/2012 5:37:49 AM PDT by Corwin of Amber (Extremism in the defense of liberty is no vice, and moderation in the pursuit of justice no virtue.)
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To: upchuck
The story is now on the Blaze.....

This is the outline but not a flow chart or fishbone of the consent agreement.

If I tried to make one, I think my head would hurt...

I don't think they can make this work. And "her" lawsuit?

Ask yourself what is her real agenda? Force a show-down with the Governor to make him the bad guy? Get "Obama" envolved with his "Stash'? And who benefits? My gut tells me she is playing a different outcome angle that we haven't thought through...


22 posted on 06/09/2012 7:22:19 PM PDT by taildragger (( Palin / Mulally 2012 ))
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