Detroit Files For Bankruptcy by Jongsstraw

REAL WORLD EVENT DISCUSSIONS

Detroit Files For Bankruptcy

POSTED BY: JONGSSTRAW
UPDATED: Saturday, March 18, 2023 04:50
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Thursday, July 18, 2013 4:52 PM

$18.5 Billion in debt, with much of the debt from unfunded union pensions.

http://money.cnn.com/2013/07/18/news/economy/detroit-bankruptcy/index.
html

http://www.latimes.com/news/nationworld/nation/la-na-0719-detroit-bank
ruptcy-20130719,0,7289375.story

The good news is that the city's largest pawn shop American Jewelry and Loan will be hiring additional employess to handle the expected increase in business. AJL owner Les Gold and family say they're ready to help everyone out.

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Thursday, July 18, 2013 6:35 PM

AURAPTOR

America loves a winner!

I guess they should raise taxes even higher.

[/sarcasm]

Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Thursday, July 18, 2013 7:24 PM

JONGSSTRAW

Quote:
Originally posted by AURaptor:

I guess they should raise taxes even higher.

[/sarcasm]

Maybe they'll do what Philadelphia just passed ... a 5% tax on lap dances in strip clubs. And it's retroactive! City tax collectors are going club to club, girl to girl, to estimate how many lap dances have been performed for the last five years and at what prices. They're calling it an amusement tax. Ought to be good for a billion or two, all in small bills of course.

http://abcnews.go.com/Business/city-philadelphia-dispute-called-lap-da
nce-tax/story?id=19615451

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Friday, July 19, 2013 1:16 AM

AURAPTOR

America loves a winner!

Of all the hell holes of a city to have to work in as a dancer.

Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Friday, July 19, 2013 6:26 AM

AURAPTOR

America loves a winner!

Romney was 100% right, and after Obama claimed they saved Detroit from bankruptcy, has been wholly & entirely shown to be wrong. Romney has real life experience on saving & turning around financial train wrecks , while the community agitator in chief took part in making matters worse.

Yeah, Barry. That bet sure is paying off.

Moron.

Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Friday, July 19, 2013 11:44 AM

WHOZIT

Maybe they should put Detroit up for sale.

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Friday, July 19, 2013 11:50 AM

AURAPTOR

America loves a winner!

Quote:
Originally posted by whozit:
Maybe they should put Detroit up for sale.

Didn't the city try to sell their old football stadium for like 100,000 $ ?

Fathom the hypocrisy of a government that requires every citizen to prove they are insured... but not everyone must prove they are a citizen

Resident USA Freedom Fundie

" AU, that was great, LOL!! " - Chrisisall

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Friday, July 19, 2013 4:50 PM

FREMDFIRMA

Well that one lies at the feet of both parties, what you might call a bipartisan FUBAR, even though it's more like 70/30 cause Kwame and his cretinous administration looted the place pretty hard - thing is, people voted for them scum because the GOP candidates were *even worse*!
How on EARTH do you get worse, where does the GOP freakin FIND these berks, scraping the bottom floors of mental institutions or something ?

Anyhows, this is all part of the business as usual model of the Koch faction, run it into the ground, pick it clean, declare bankruptcy and laugh in the face of creditors while leaving the public and the workin sods holding the bag, but despite his absolute disrespect for the State Constitution and Federal Law, ole Synder isn't an all powerful dictator (although he wishes he was) and will be kicked in the teeth by the courts for this, who will block it on Constitutional grounds, there's rules there for a reason, and while the "party of personal responsibility" (except of course when it comes to THEM!) seems to think rules and laws don't apply to them, well...

Mind you, Snyder is part of the Koch faction, and part of the financial woes are the amount of looting he's had to do in order to pay off the Bush-Cheney and Devos-Prince factions in order to hold enough political clout to ram through his agendas, because outside of a tiny minority insulated from the appalling realities of insane economic policies, everyone prettymuch hates his guts, INCLUDING the other two factions, and when he runs out of money to pay them off with, it's gonna be night of the knives for him politically, and the Koch crowd will dump and disown him, especially if there's enough criminal dirt to potentially implicate them in all this.

Not helping is the way the Detroit PD looted the hell out of the public safety budget to live like kings while leaving the Firefighters and EMTs without equipment, lacking personnel and often without even working vehicles - which can't be sorted so easily cause every time more money is dumped into that budget, the DPD loots it even harder...
This is why in the townships, those budgets are seperate.

There's also that, any tyrant should never make the mistake of shafting his praetorian guard, and in his blind greed and desperation apparently the fact that the blue suit mafia would be shorted their cut in this game eluded him, which means they'll turn on him too - morals be damned, the fastest way to break up a criminal or political cabal is somebody not gettin paid, and this is definately a kneecapper here, for without the support of the badge bearing mafia he loses a big chunk of the few assholes still willing to carry out his asinine directives.

Oh, AND his bullshit also all but ensures that Detroit will vote another scumbag like Kwame into the mayors office, just to keep it out of the hands of scum like Synder and his cronies - corrupt as he was, HE didn't bankrupt the friggin city with slash and burn policies based on the magickal thinking of italian fascist economics.

Maybe if the GOP would raise the bar instead of constantly lowering it to the bottom of the political sewer, things might change for Detroit, but so long as they keep providing candidates even worse than the usual brand of corruption, that ain't gonna happen - and the Dems have no incentive to without any real competition.

There's no win here, cept maybe third parties, but even that is an uphill slog cause the GOP likes to doubledip with phony party names(1) over the same agenda and thus folks are suspicious of them cause of it.

-Frem

(1)- In fact, triple dip, cause you have the GOP, US Taxpayer, and Libertarian factions on the ballot here, all run out of the same goddamn office, a fact which doesn't escape the locals - so go right on ahead, keep splittin your own damn vote till no amount of gerrymandering and chicanery can save it, especially since the vote hacks have been discovered and plugged by outside sources.
Winter is Coming... for them.

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Friday, July 19, 2013 5:16 PM

JONGSSTRAW

So who has been in control of and running Detroit for the last 50 years?...

Detroit Mayors:

Jerome Cavanagh - DEMOCRAT
January 2, 1962 – January 5, 1970

Roman Gribbs - DEMOCRAT
January 6, 1970 – January 1, 1974

Coleman Young - DEMOCRAT
January 1, 1974 – January 3, 1994

Dennis Archer - DEMOCRAT
January 3, 1994 – December 31, 2001

Kwame Kilpatrick - DEMOCRAT
January 1, 2002 – September 18, 2008

Kenneth Cockrel, Jr. - DEMOCRAT
September 18, 2008 – May 11, 2009

Dave Bing - DEMOCRAT
May 11, 2009

All Democrats. What a shock!

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Friday, July 19, 2013 7:43 PM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!

Obama gave $30-Billion for Govt Motors to move to Commie China

Cops get 10-cents on the dollar for their stolen pensions HAHAHAHAHAHAHAHAHAHA!!!!

Rand Paul: Obama will bail out Detroit ‘over my dead body’
http://dailycaller.com/2013/07/19/rand-paul-obama-will-bail-out-detroi
t-over-my-dead-body/

In Firefly the Alliance merged the US flag with the flag of Communist China

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Saturday, July 20, 2013 1:23 AM

FREMDFIRMA

Quote:
Originally posted by Jongsstraw:

So who has been in control of and running Detroit for the last 50 years?...

Detroit Mayors:

Jerome Cavanagh - DEMOCRAT
January 2, 1962 – January 5, 1970

Roman Gribbs - DEMOCRAT
January 6, 1970 – January 1, 1974

Coleman Young - DEMOCRAT
January 1, 1974 – January 3, 1994

Dennis Archer - DEMOCRAT
January 3, 1994 – December 31, 2001

Kwame Kilpatrick - DEMOCRAT
January 1, 2002 – September 18, 2008

Kenneth Cockrel, Jr. - DEMOCRAT
September 18, 2008 – May 11, 2009

Dave Bing - DEMOCRAT
May 11, 2009

All Democrats. What a shock!

Not at all, as I mentioned, problem is, the GOP candidates were in every case even sleazier - why not raise the damn bar instead of lowering it, I ask, cause "not as slimy as the other guy" is a damn poor standard to be going on with, isn't it ?

The first three weren't so bad, and Archer was indeed a crook, but he was a SMART crook - frankly I'd take a smart crook over an honest incompetent, you know ?

But yeah, every one of em since has been pretty revolting, and if the GOP can't offer something BETTER, you have to ask what they're made of, if all they got to offer is worse.

Oh, and side note, I am laughing up my sleeve at the tiny little minority who actually voted for Synder, mostly confined around here to a tiny stretch of Canton Center Rd... ALL of whom are moving out, whining and whinging about economic policies they voted for flying about as well as a cement airplane, but of course they can't ADMIT that Rand-ian bullshit only works in fiction so they blame everyone but themselves...
Bunch of mini-mansions going cheap, if anyone is interested, meh heh heh.

-Frem

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Saturday, July 27, 2013 5:20 AM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!

Never fear all is well!!!!

http://blogs.wsj.com/moneybeat/2013/07/25/new-red-wing-stadium-should-
be-unaffected-by-detroit-bankruptcy/

In Firefly the Alliance merged the US flag with the flag of Communist China

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Saturday, July 27, 2013 12:56 PM

FREMDFIRMA

Oh don't EEEEVEN get me started about that goddamn stadium.
Or the cops posh casino HQ.
Or how those fucking casinos reneged on the deal and never actually paid the seventy five MILLION they owed back into the city, just like this bastard stadium won't.

Fuck the Red Wings.

-F

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Tuesday, December 15, 2015 5:28 PM

JAYNEZTOWN

Detroit retirees say city stole from them to exit bankruptcy
http://www.fox2detroit.com/news/local-news/51746946-story
Some Detroit retirees are still fighting the city's bankruptcy.

They took to the streets in protest outside of the Detroit Institute of Arts Thursday where some key players in the bankruptcy were receiving awards.

Two judges, Gerald Rosen and Steven Rhodes were the deciders during Detroit's escape from bankruptcy, received the Dennis Archer Award for public service by the Detroit Metropolitan Bar Association.

But outside the DIA, protestors, mostly retired city workers, say the judges decided to use their pensions to get out of bankruptcy.

"It appeared from the very beginning that their main purpose was to go after our pensions and health care," said William Davis, Detroit Active Retiree Association.

Davis says his pension was cut by 23 percent.

"It meant instead of my son going to Michigan State, now he’s at Wayne County Community College. It meant that we rapidly started burning through my savings."

And he claims some 19,000 other city retirees are in worse shape.

"There are a lot of people who didn't make as much money who probably didn't have any savings," Davis said. "Who have to choose between medicine or paying your mortgage."

Detroit was the largest city to ever go bankrupt. Then came "the grand bargain” private foundations pledging hundreds of millions and the state supplying nearly $200 million, even the DIA, expecting to chip in $100 million, all to help keep a portion of the pension alive.

Still protestors say a crime has been committed. They feel their money was stolen and they plan to take their fight to U.S. Supreme Court.

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Tuesday, October 26, 2021 2:00 PM

JAYNEZTOWN

In Detroit, a push to help Black farmers purchase land
https://grist.org/agriculture/in-detroit-a-push-to-help-black-farmers-
purchase-land/

Hamtramck in Detroit area is latest facing lead in water
https://www.wral.com/hamtramck-in-detroit-area-is-latest-facing-lead-i
n-water/19938706/

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Saturday, March 18, 2023 4:50 AM

JAYNEZTOWN

Detroit museums ask the city for more funding in 2024 budget

https://www.bridgedetroit.com/detroit-museums-2024-budget/

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