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Detroit preparing for bankruptcy filing as early as Friday: report
Reuters ^
| 07/18/2013
Posted on 07/18/2013 12:35:17 PM PDT by SeekAndFind
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To: RC one
Taxpayers better not have to foot this bill.
Who do you think is gonna foot it? Aliens?
To: taildragger
I’m sure that’s right. And the ones who will be unquestionably screwed are the small unsecured creditors who will get nothing, whereas for the big pension funds, it’s just a matter of who pays.
22
posted on
07/18/2013 12:58:10 PM PDT
by
bigbob
To: taildragger
I cannot see any possible way they win this. Bankruptcy laws exist under the power explicitly granted to Congress by the Constitution. If municipalities have a right to seek that protection (the statute clearly says they do), then stopping Detroit from filing will require some really creative lawyering and judging.
23
posted on
07/18/2013 12:58:48 PM PDT
by
cdcdawg
(Be seeing you...)
To: Buckeye McFrog
let me rephrase, Ohio tax payers better not have to foot the bill for failed Michigan/Pennsylvania policies.
24
posted on
07/18/2013 1:00:54 PM PDT
by
RC one
To: RC one
We will.
Or... this is the beginning of the end of the United States.
I’m not saying we should, mind you.
The first major city going bankrupt is not the trumpet blast signaling the end of the economy, but
the first major city going bankrupt that doesn’t get bailed out, IS.
25
posted on
07/18/2013 1:01:33 PM PDT
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: SeekAndFind
Will Detroit be forced to liquidate and sell off all it’s residents?
26
posted on
07/18/2013 1:02:49 PM PDT
by
Cowboy Bob
(Democrats: Robbing Peter to buy Paul's vote.)
To: SeekAndFind
“Philadelphia, 5th Largest City in US is Effectively Bankrupt”
From what I understand Los Angeles is not in to good of shape either.
To: RC one
Don’t worry about that....the collapse of Cleveland
will come soon enough.
To: Springman; cyclotic; netmilsmom; RatsDawg; PGalt; FreedomHammer; queenkathy; madison10; ...
29
posted on
07/18/2013 1:10:41 PM PDT
by
cripplecreek
(REMEMBER THE RIVER RAISIN!)
To: CSM
Cure for Detroit:
- Lease it to the ChiComs for 50 years as a Special Administrative Region like Hong Kong.
- Residents of the S.A.R. vote only in local elections for the duration, not in state or national elections.
- Reduce Michigan's representation in the House accordingly and award it to the next state in line under the formula.
- They may apply for reinstatement at the end of the lease.
- Rinse and repeat for any other cities needing to file for bankruptcy.
30
posted on
07/18/2013 1:12:19 PM PDT
by
Vigilanteman
(Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
To: tcrlaf
Only the steel mills on the south shore of Lake Michigan are keeping Gary out of bankruptcy. They may be mostly owned by foreign companies now, but they are still there making steel. Their property taxes alone keep Gary afloat.
31
posted on
07/18/2013 1:14:54 PM PDT
by
henkster
(The 0bama regime isn't a train wreck, it's a B 17 raid on the rail yard.)
To: MrB
The only thing they need bailed out of is their union contracts.
32
posted on
07/18/2013 1:15:04 PM PDT
by
RC one
To: tcrlaf
Detroit, MI, and Provo, UT, epitomize Americas political, economic and racial polarization, says Peter Thai, a BACVR researcher. As the most conservative city in America, Provo is overwhelmingly white and solidly middle class. The solidy middle class thing is a crock. Provo is a college town with a goodly percentage of their student population living below the poverty level in substandard housing. The biggest difference is in attitudes. People in Provo work to get themselves out of poverty. People in Detroit wait for the next government handout.
33
posted on
07/18/2013 1:16:42 PM PDT
by
Vigilanteman
(Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
To: RC one
Just like the “stimulus” of ‘08,
Obama will direct any bailout to making sure that union employees keep their jobs and their pensions.
34
posted on
07/18/2013 1:17:32 PM PDT
by
MrB
(The difference between a Humanist and a Satanist - the latter admits whom he's working for)
To: RC one
35
posted on
07/18/2013 1:20:01 PM PDT
by
VerySadAmerican
(If you vote for evil because you can't see evil, you ARE evil!)
To: Parley Baer
To: MrB
GM paid us back, don’t you know. (sarc) I’m sure the unions will pay us back, too.
I know people who actually believe GM paid off their loan to the U.S. There are way too many people in this country who believe everything they hear from the main stream media.
37
posted on
07/18/2013 1:24:32 PM PDT
by
VerySadAmerican
(If you vote for evil because you can't see evil, you ARE evil!)
To: SeekAndFind
The liberal shining city on the hill going down the toilet?
38
posted on
07/18/2013 1:26:48 PM PDT
by
ronnie raygun
(Yesterdays conspiracies are todays truths)
To: SeekAndFind
On NYT now . . .
Breaking News 4:16 PM ET Detroit Files for Bankruptcy
39
posted on
07/18/2013 1:26:50 PM PDT
by
Sgt_Schultze
(A half-truth is a complete lie)
To: Sgt_Schultze
40
posted on
07/18/2013 1:28:29 PM PDT
by
Windcatcher
(Obama is a COMMUNIST and the MSM is his armband-wearing propaganda machine.)
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