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MICH. GOV SNYDER TO ANNOUNCE STATE TAKEOVER OF DETROIT
ZeroHedge ^ | 2/28/2013 | Tyler Durden

Posted on 02/28/2013 1:26:28 PM PST by taildragger

Usually, when the administration needs a distraction from just how broke and insolvent in reality the country is, it sends the stock market soaring higher. As such it is beyond ironic that as the S&P is set to hit an all time high, Detroit - that shining symbol of the Obama administration's bailout of General Motors - effectively goes broke.

MICH. GOV SNYDER TO ANNOUNCE STATE TAKEOVER OF DETROIT

More:

Detroit Mayor Dave Bing says Governor Rick Snyder will announce a state takeover on Friday

Detroit Mayor Dave Bing says Michigan Governor Rick Snyder will announce a state takeover of the city of Detroit on Friday.

Bing says the governor told him his decision during a phone conversation this morning. Bing was talking with reporters following a speech before the Detroit Regional Chamber at the MotorCity Casino.

The city will have 10 days to appeal the decision to the governor.

7 Action News has teams working the story to get more details.

If only Detroit had gone all in the stock market when Bernanke made it his life's crusade to take the Dow to 36,000 and blow up everyone else, trying...


TOPICS: Business/Economy; Government; US: Michigan
KEYWORDS: detroit; financialmanager; michigan
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To: VRWCarea51
Right now Detroit is throwing state and federal money down a hole. What this allows them to do is void all city contracts, especially union contracts, and renegotiate. Plus he can remove the corrupt and appoint city managers that can get finances under control.

If you thought the previous union battle was vicious, get ready for this one. The governor is about to cut off a very large money spigot to the democrats. I expect riots.

41 posted on 02/28/2013 2:19:09 PM PST by Vince Ferrer
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To: taildragger

A week or so ago....the mayor was trying to warn the gov that there could be 1968 like riots in the event of a state take over. There is nothing left to burn down there, and if they decide to come to the suburbs......it will get very ugly/bloody.


42 posted on 02/28/2013 2:20:18 PM PST by Nekman (A vote made for Obama......is a vote made By a MORON!)
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To: longtermmemmory

If Dresden and Hiroshima can be rebuilt, so can Detroit. It might be a good idea to populate the area with Germans or Japanese though if you expect to get any work done. Perhaps sell Belle Isle to the Taiwanese or Koreans?


43 posted on 02/28/2013 2:27:30 PM PST by MSF BU (n)
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To: MomwithHope

Since Chicago is already gone, why not try to relocate as much of the population from Detroit to Chicago as possible. How many hundred thousand would need to move before Michigan became competitive politcally again?


44 posted on 02/28/2013 2:31:08 PM PST by MSF BU (n)
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To: cripplecreek
Panic in Detroit

 photo Panic.jpg

45 posted on 02/28/2013 2:32:20 PM PST by twistedwrench
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To: taildragger

I’d say it has two great potentials:

1. Thunderdome/Escape From New York it.

2. Nuke it from orbit.


46 posted on 02/28/2013 2:40:58 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: Vince Ferrer

maybe but given their serious decline in population it’s a better time to have them now, than before.


47 posted on 02/28/2013 2:42:51 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: alloysteel

yeah, it was but in name only. someone posted to me last week the first movie used dallas. probably not for every shot but for many location shots.


48 posted on 02/28/2013 2:44:48 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: RetiredTexasVet

they’d still be third world, bulldozed or not. it could still work.


49 posted on 02/28/2013 2:45:56 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: tet68

Better to fence it in!.................


50 posted on 02/28/2013 2:45:56 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: junta

well I am sure the governor there really, really doesn’t want to do this. Hell I wouldn’t want to clean up their mess. It’s a blot/blight on the rest of the state though and they just keep getting worse and worse and worse.


51 posted on 02/28/2013 2:47:13 PM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: beelzepug

Not apprpriate. It was just a large version of fly-paper, introduced by Uncle Remus, who would NEVER think what you are thinking! :>)


52 posted on 02/28/2013 2:48:19 PM PST by expat2
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To: expat2

Amen to that.

The only way to save Detroit is to cure the biological catastrophe.

53 posted on 02/28/2013 2:50:09 PM PST by bert ((K.E. N.P. N.C. +12 .....The fairest Deduction to be reduced is the Standard Deduction)
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To: Secret Agent Man

Pull down all the walls, rip up the earth, and seed it with rock salt.

Detroit delenda est. Much like the once great city Carthage that was a rival to the Roman Empire.


54 posted on 02/28/2013 2:53:41 PM PST by alloysteel (What is all too obvious, is not obvious to all. Until it is too late to reverse course.)
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To: taildragger
‪Hastily made Detroit Tourism Video‬
55 posted on 02/28/2013 2:54:01 PM PST by randita
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To: Third Person

Nuke what ? They already spent 55 years nuking themselves with the dual bombs of Stalinism and “Get Whitey.”


56 posted on 02/28/2013 3:00:25 PM PST by fieldmarshaldj (Resist We Much)
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To: MSF BU

Maybe with Detroit emptied out we here in west Michigan would look forward to elections again.


57 posted on 02/28/2013 3:07:53 PM PST by MomwithHope (Buy and read Ameritopia by Mark Levin!)
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To: Vince Ferrer; All
Right now Detroit is throwing state and federal money down a hole. What this allows them to do is void all city contracts, especially union contracts, and renegotiate. Plus he can remove the corrupt and appoint city managers that can get finances under control. If you thought the previous union battle was vicious, get ready for this one. The governor is about to cut off a very large money spigot to the democrats. I expect riots.

As I understand the Emergency Financial Manager Law, this person has 18 months to work a miracle. I don't know his or hers scope of power, but perhaps they need to hire quite a number of individuals each to take a department and re-engineer them and or shut them down.

Case in point, the Water Dept is a Profit Center that supplies the burbs with Water, but it is horribly run.

How do they spin off the Electrical Grid they run, their Mass Transit that is always in the red, not to mention "The People Mover". The list goes on and on...

As a side note, in terms of rabble-rowsers going their to cause trouble, I think the Rev. Jacksonnnnnn ( Buckley pronuciation ) is pre-occupied with his Son who is now or soon to be a felon and the other Rev is doing a TV show if my memory is correct. 2 small miracles for Gov. Snyder to say the least....

58 posted on 02/28/2013 3:14:02 PM PST by taildragger (( Tighten the 5 point harness and brace for Impact Freepers, ya know it's coming..... ))
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To: Vince Ferrer

That sucks, spring walleye fishing is just around the corner. Some of the best is right out in front of the Joe. Suppose turret mounted 50 cal. Is an option. ;)


59 posted on 02/28/2013 3:17:21 PM PST by VRWCarea51
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To: Opinionated Blowhard

I last visited Detroit in 1979 when I had some business with GM. It was a hell hole then of sullen street thugs glaring at you because you were white. My hotel was like a set from “Blade Runner.” Filthy, noisy buses that appeared to be burning coal screeched and lumbered through the night in front of the hotel, making the windows in my room vibrate noisily. Everyone on the streets hurried along, eyes downcast, except for the thugs. I stopped at the luncheonette in the GM Building. One well-dressed middle-aged executive suddenly threw-down his menu, screamed at the waitress for not moving quickly enough, and stormed out, overturning his chair. It was like a bad dream. Taxis were adventures in abusive, dangerous drivers and high fees. Restaurants smelled bad. That was in 1979. I try to imagine how bad it is now and fail.


60 posted on 02/28/2013 3:19:10 PM PST by pabianice (washington, dc ..)
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