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Date: 07/19/13 07:41 PM

13 Responses to Detroit Goes Bankrupt [Pic+]

  1. Profile photo of richanddead
    richanddead Male 18-29
    3489 posts
    July 19, 2013 at 7:04 pm
    Link: Detroit Goes Bankrupt - Its the largest municipal filing for bankruptcy in U.S. history.
  2. Profile photo of paperduck
    paperduck Male 18-29
    1745 posts
    July 19, 2013 at 8:10 pm
    Except for cities in Wyoming and North Dakota, so is everywhere else.
  3. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    July 19, 2013 at 8:42 pm
    This is what happens when Atlas shrugs.
  4. Profile photo of 5Cats
    5Cats Male 50-59
    32805 posts
    July 19, 2013 at 8:55 pm
    A State Judge Is Trying To Block It
    It violates Michigan`s constitution or something. Plus it dishonors Obama.
    No really, she says that! Go look!

    Everyone loses except the lawyers...
  5. Profile photo of turdburglar
    turdburglar Male 30-39
    4896 posts
    July 19, 2013 at 9:17 pm

    It`s because of the ______fu@*tards!
  6. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36665 posts
    July 19, 2013 at 9:18 pm

    Why do they keep saying it`s the largest city to go bankrupt? New York did in the `80s. Mayor Kotch.

  7. Profile photo of Sleepyhallow
    Sleepyhallow Male 50-59
    1983 posts
    July 19, 2013 at 9:50 pm
    Let`s here it for the success of 30+ years of Trickle Down Economics.
  8. Profile photo of auburnjunky
    auburnjunky Male 30-39
    10339 posts
    July 19, 2013 at 11:45 pm
    "Let`s here it for the success of 30+ years of Trickle Down Economics."

    First of all, it`s "hear". Secondly, the Liberal, Union leaders have been running Detroit since the 70`s. It`s finally dead. They finally killed it.
  9. Profile photo of CodeJockey
    CodeJockey Male 40-49
    5611 posts
    July 20, 2013 at 1:43 am
    "Why do they keep saying it`s the largest city to go bankrupt?"
    Not the largest city, the largest municipal bankruptcy. Like $20B+
  10. Profile photo of DrProfessor
    DrProfessor Male 18-29
    3894 posts
    July 20, 2013 at 5:39 am
    @auburnjunky-- "In March, as Detroit faced an estimated debt of $19 billion, Michigan appointed an emergency manager vested with extraordinary powers to rewrite contracts and liquidate some of the city’s most valuable assets. That led to once-unthinkable proposals such as forcing public employees to cut their retirement benefits or demanding that investors in municipal bonds — long considered among the safest investments — take pennies on the dollars they lent to Detroit. In recent days, both of those groups objected, propelling the city to file for bankruptcy."

    The legislation to appoint "Emergency Managers" of failing cities was pushed and passed by republicans in the Michigan legislature. I was outraged when it first went through, and in practice it seems to be as ineffectual as it is galling. `Extraordinary powers` indeed.
  11. Profile photo of auburnjunky
    auburnjunky Male 30-39
    10339 posts
    July 20, 2013 at 8:50 am
    Yep. Too little too late. Fact is, the Dems have run Detroit for the longest, and the liberal "Throw money at the problem" agenda has bankrupted the city.
  12. Profile photo of ferdyfred
    ferdyfred Male 40-49
    13631 posts
    July 20, 2013 at 3:02 pm
    Its a travesty that motor city has gone bankrupt
    reading the comments below reads sad news
  13. Profile photo of CodeJockey
    CodeJockey Male 40-49
    5611 posts
    July 21, 2013 at 6:26 pm
    auburnjunky, that is very much bullsh*t. Nobody threw anything.

    20 years ago it was clear things would head this way. Then Detroit mayor Dennis Archer made many attempts to privatize large portions of city services while attracting new large businesses to put offices and HQ`s in the city.

    The city fought that guy with all it`s might. Not even name calling was spared.

    They ended up with a couple casinos, a tech business or three, some housing construction proposals and business-as-usual for city services.

    To me, he seemed to give up. The mayor that followed was Kwame Kilpatrick.

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