Skip to comments.Record Bankruptcy for Detroit
Posted on 07/18/2013 11:17:29 PM PDT by lbryce
DETROITThe city of Detroit filed for federal bankruptcy protection Thursday after decades of decline, a new low for a city that once defined industrial America's might but was hollowed out by the flight of residents and businesses to the suburbs.
The filing by the automobile capital and onetime music powerhousewhich has liabilities of more than $18 billionis the country's largest-ever municipal bankruptcy case.
The move to restructure the debt is bound to set off months, if not years, of legal wrangling, asset sales and cuts to benefits for Detroit workers and retirees, including 20,000 on city pensions. Owners of the city's bonds are expected to battle with retirees and others for pieces of the city's diminished wealth
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Wrong = faux
mal - bad
mauvaise - worse?
My coonass is rusty. Anyhow, I’m going to bed.
Goodbye Detroit! Hello Defaux! Desinistre?
So is mine, LOL.
This is what being run entirely by Democrats and Unions since 1961 looks like. Sweet, right? Just sit there on that Plantation and don't question when we tell you that this is the best you can get.
Oh, yeah, and be sure to hate Republicans... you know, those guys who died by the millions to free you, then keep your lazy, useless asses free? Yah, they're your real enemy.
You brian-dead, ghetto trash, oxygen-wasting butt-pimples. If you doubt my veracity, just watch one episode of "Hard Core Pawn." It's quite an eye-opener. You'll get it, real quick.
If Obama ran the country will it look like Detroit?
This won’t matter to the Detroit populace. They made this city and are responsible for what is has become.
Where’s Jesse and Al?
“BUT. God needs to be invited into our struggles.”
When I was in public school back in the 50s, we started every morning, taking turns, reading a short bible passage. The Jewish kids would read from the old testament, Christians from the new.
Today, the teachers and every one involved would be thrown in jail for doing that.
They will put Detroit up for sale and China will buy it and open a Chinese industrial complex. watch.............
Detroit fell because of corruption, liberal ideas, and white fools.
town ran by liberals.. BK.. who are they going to blame? they had a free run of that city and no republican had one damn word to say about it.. so liberal policies work?
200 years ago they walked in and took it without a fight.
We should stage a reenactment, and conveniently let them keep it.
Worse. The Federal government has guns and can print money.
Obama: “If I had a home town, it would look like Detroit.”
This is a fitting epithet for the city of Detroit. When filling pot holes for 25 years entitles one to retire at age 50, God help us.
The Union Pension Protection Fund, or whatever the real name is, guarantees that you will pay for all the debt that Detroit just defaulted on. Bend over so Obama can smile.
If it’s that federal insurance program, it only pays a percentage of the insured pension and their is a maximum that any given retiree can get. In other words, every retiree would take som “bath”, but those with the higher pension would see their pension cut by a higher amount & percenctage. This is from my memory only so don’t take it to the bank.
You didn’t mention forced busing of school children. When children were forced to ride a school bus for 45 minutes each way, rather than walk 5 minutes to a nearby school, parents moved outside the busing zone. And it was the intact families, with tax paying parents, that moved.