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...
the dems have owned that city forever.
let it be a shining example of their ‘leadership’
socialistic bs strapped to it sunk it to the bottom of the bay
same thing happens in every city/state/country socialistic crap exceeds some small amount
From this thread, don’t you feel the spirit that conquered the American West? LOL
So instead of going bankrupt, the state is going to pick up the tab?
That’ll teach ‘em.
” . . .shining symbol of the Obama administration’s bailout of General Motors’. . . unsustainable UAW contractual retirement benefits obligations.
Post the only competent mayor in 40 years ( Dennis Archer ) their is a number resturants run by leading edgers with some really good food. Archer did all the easy stuff of getting the Lions Back, and a new Tigers Stadium, the Fox redone, but a new rink for the Wings is still in the works. The point is on the surface downtown isn't bad, but their is an under-current of predators if you look, you could get rolled if you are not smart by being a tourist....
Nah, the state is going to make them get rid of half of the union gravy train. What they WANT is our money but that won’t happen. They already blew it by turning down $6 million the state offered to lease Belle Isle for 10 years and put it in the state park system. That was a huge bullet we dodged. (pun not intended)
There’s something about Dave Bing that I REALLY LIKE. Maybe it was that he could shoot some serious hoop. Who knows. In any case, I think Detroit elected a decent person to be mayor (compared to Coleman Young) and perhaps Bing could wind up playing a critical role in getting that city on its feet...assuming the state takes it over. Without the takeover, ANY mayor of Detroit is totally handcuffed.
GM and now Detwaa, the warning shots across our bow, i.e. the unsustainability of legacy cost programs, i.e. retirement, and retiree medical, ergo SSI, Medicare, Medicaid and now Obamacare.
Bob, you are preaching to the choir, I'd trade him for Oboingo if I could wave a magic wand in a heart-beat, I really like this guy.
My Fireman Gnome from Detwaa who I haven't seen or talked to in a while says he is real deal and would come to the Fire-Houses to talk to the guys to get the real skinny. My Gnome is a Conservative with a BS detector, Bing passed his test, that is good enough for me.
I see it as a chance for a spectacular GOP coup. There is a lot more going on here than meets the eye.
How about a new Mary Tyler Moore show with a young single woman moving to Detroit instead of Mpls? Bwwwaaahhhh!!!
If I were in charge, I would just deed Detroit to Zimbabwe.
Same song, different verse.
Such as the following Emergency Manager(s) Candidate(s)?
Steve Forbes, Donald Trump or Rudy Guliani ????
Do I dare dream that big???
The first thing Dave Bing did after being elected was go down to the city council and ask them “How the hell do you feel getting rich by picking the bones of your dead city”?
He then turned around and fired some 50 bus drivers who called an informal strike. He’s also had an ongoing fight with the unions because he doesn’t want union dues deducted from paychecks.
He’s a democrat no doubt but he’s not actively seeking to destroy the country.
Right, she gets mugged and raped before she can unload
the car...
There was a major supermarket that wanted to move into Detroit a few years back. After getting jerked around by the city council for five years they dropped the idea.
There was no doing business in Detroit unless you had a council person or three in your pocket.
I knew Detroit was done when I saw pictures of closed schools with computers, school equipment and books wasting. I never knew why they did not put them to use instead of the schools being vandalized. I love to read and it made me sick to see all those books on the floors, broken windows which allowed rain to blow into the rooms. Why did they allow this? They could have given the stuff away if nothing else. There are people who would have loved getting these items.
That is a really HIGH STANDARD, so I’m glad Mayor Bing passed. We do have to hand it to the people in Detroit for voting for him...I just hope he’s “in the loop” to help fix the mess.
You got that right. That current populace is 85% useless to do anything except union feather bed for city jobs, sell drugs on the corner, or shoot up. Almost all the politicians should long ago have been thrown in the slammer.
Lagos, Nigeria, has better prospects than Detroit as currently inhabited and structured.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.