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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: SpaceBar

ROTFLMAO that’s awesome! I used to refer to Detroit as Washington DC without the monuments but it’s much worse than that now. It looks like Robocop will come true after all. Pretty soon all of their pro sports teams will jump the border into Canada.


101 posted on 02/28/2013 8:00:00 PM PST by GoldwaterCountry (Viva Reagan Revolucion!)
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To: Squawk 8888
Yeah, it could be Windsor West.

I would like to think Ontario would unilaterally declare war on Detroit for such a grievous insult. I would even smuggle in weapons to support the war effort.

102 posted on 02/28/2013 8:38:24 PM PST by Nachoman (Wisdom is learned, cynicism is earned.)
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To: cripplecreek

sell the city off block by block


103 posted on 02/28/2013 9:40:25 PM PST by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: Squawk 8888; All

“Pity about Detroit....”

Atomic bombs. The former city....

Some ass’y required....


104 posted on 03/01/2013 12:38:45 AM PST by backhoe (Yeah, I'm seeing the Cute Cat Lady...might even love her, a little. Yes, I do....)
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To: cripplecreek

"You want me to make an offer on the entire city??"

105 posted on 03/01/2013 4:40:37 AM PST by Abathar (Proudly posting without reading the article carefully since 2004)
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To: taildragger; Lazamataz
Good morning.

Many years ago, Laz, I, and a few others were going to invade Canada (you may remember). We made detailed plans from how we would do it, to distributing the spoils.

Canada heard about the plan, and were very worried. So they sent us an e-mail that stated, if they took Detroit off our hands, would we cancel the invasion.

We agreed.

5.56mm

106 posted on 03/01/2013 5:11:19 AM PST by M Kehoe
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To: littleharbour

Just one question, are they union?.........there’s your answer........


107 posted on 03/01/2013 6:18:41 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Secret Agent Man

For Snyder’s financial supporters I’m sure there is some profit involved somehow.


108 posted on 03/01/2013 6:24:11 AM PST by junta ("Peace is a racket", testimony from crime boss Barrack Hussein Obama.)
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To: Squawk 8888
Detroit should NOT be saved by the State.

Even if it could be done...

Detroit should be an example to the rest of the country about what happens when liberal ideas run a place for 40 years.

It's too late to save the cesspool. Just gives the creeps who cause the mess an option to blame someone else... Corrupt dems made Detroit a hellhole - it's their responsibility.

109 posted on 03/01/2013 7:14:08 AM PST by GOPJ (To be free is to own one's risk - Jonathan Levy)
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To: Windflier

That’s a great logo!


110 posted on 03/01/2013 10:43:09 AM PST by beelzepug (Telling other people they need to die is a good way to get your own lamp blown out.)
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To: SpaceBar
Detroit: Liberalism’s Hiroshima

The difference is that Hiroshima is populated by Japanese people. Detroit has the same demographics as Haiti. What would Detroit be like if the population was 90% Japanese?


111 posted on 03/01/2013 12:50:37 PM PST by Count of Monte Fisto (Republicans are to the Democrats as the Generals are to the Harlem Globetrotters)
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