Mowdown in Motown

Wall STreet Journal ^ | August 31, 2014 | Review and Outlook

[Makana]

Federal Judge Steven Rhodes will begin hearings Tuesday to determine whether Detroit's readjustment plan fulfills the legal and fiscal requirements to exit Chapter 9 bankruptcy. The trial may provide investors a lesson, instructive but painful, in how politics can override law in municipal bankruptcies.

Since declaring bankruptcy in July 2013, Detroit has cut deals with nearly all of its major creditors. Workers, retirees and most bondholders this summer voted to accept the plan. Yet Judge Rhodes must still validate that the plan is "fair and equitable" and was proposed in good faith, among other standards of Chapter 9.

[Makana]

Liberal fiscal policy = Detroit default, Illinois to follow

Liberal foreign policy = beheading, crucifixion, slavery of women, slow motion invasion of the US borders

Liberal law enforcement = Chicago running gunfights through the city

Liberal environmental policy = humans be damned. Save the (Fill in the blank).

Liberal energy policy = Freeze in the winter. Melt in the summer. Walk to work.

[Blue Collar Christian]

“Liberal energy policy = Freeze in the winter. Melt in the summer. Walk to work.”

There’s work? What’s work? Work is for squares.