Detroit files for Chapter 9 bankruptcy - Page 4 - TigerDroppings.com

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rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
7802 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

A Detroit city councilwoman said that President Barack Obama should give the city of Detroit a bailout as a “quid pro quo” in exchange for all the votes he received from city residents.

Council member JoAnn Watson made the suggestion at a city council meeting Tuesday, according to Fox 2 News in Detroit.

“Our people in an overwhelming way supported the re-election of this president and there ought to be a quid pro quo and you ought to exercise leadership on that,” she said. “Of course, not just that, but why not?”

The near-bankrupt city votes almost exclusively for Democratic candidates at the local, state, and federal level. Three-quarters of Detroiters voted for Obama.

If the president were to pay the city back for its support, he would not be the first to do so, according to Watson.

“After the election of Jimmy Carter, Mary Coleman Alexander Young went to Washington, DC,” she said. “He came home with some bacon. That’s what you do.”





And they wonder why they're bankrupt with people like this in positions of authority.






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Scoop
LSU Fan
Ecuador
Member since Sep 2005
27757 posts

re: Detroit files for Chapter 9 bankruptcy


Canary.





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HubbaBubba
LSU Fan
RIP - los angeles tiger
Member since Oct 2010
8181 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

LSUnowhas2
you suck at links






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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
8903 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

It's going to be very interesting to see how the pension issue is settled here, given the state's constitutional provisions on protecting public worker pensions. I'm no lawyer, but if a precedent is set that allows a municipality to discharge, restructure, or reduce pension benefits, I could see the floodgates opening across the country for other cities and counties.


Actually the United States Constitution gives Congress the specific enumerated power in this matter.

Article I Section 8 says (among other things):

quote:

To establish a uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States


So if the bankruptcy laws permit pensions to be gutted for pennies on the dollar, it doesn't matter what the Michigan Constitution says. This is one of the areas where Federal law trumps state laws and does so fully within the provisions of the United States Constitution.






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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
8903 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

I'm being completely serious, why not buy near downtown and hold onto it. shite if you pay $1000 for a property and taxes after 10 years you are out less than $2000 and surely prices will go back up.


Maybe we need to start TD Land Acquisition Partners, L.P.?






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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
8903 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

The state of urban decay in Detroit is truly fascinating though. I love this website:


Link not working.






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Beer Bryant
Alabama Fan
In a Hidden Bunker
Member since Jan 2012
8792 posts

re: Detroit files for Chapter 9 bankruptcy


Michigan Judge Bars Detroit From Cutting Pension Benefits

A Michigan judge temporarily barred the state’s governor and Detroit’s emergency manager from taking any action that would allow cuts in pension benefits for city retirees.

Ingham County Circuit Court Judge Rosemarie E. Aquilina rejected a bid by the General Retirement System and the Police and Fire Retirement System of the City of Detroit to block the city’s bankruptcy filing. The pension funds sued yesterday seeking to stop the filing.






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wmr
Yale Fan
North of Dickson, South of Herman's
Member since Mar 2009
20183 posts

re: Detroit files for Chapter 9 bankruptcy


Detroit is what happens when the productive people leave and the leeches take control. Its a downward spiral.

It should frighten the hell out of everybody that this can happen to what was a world class city in every way. It had some of the very best infrastructure in the U.S. at one time. Its not like the people running it inherited a shitpile. It took an incredible amount of abuse and neglect to drive Detroit into the ground.






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coolpapaboze
Penn Fan
Parts Unknown
Member since Dec 2006
7898 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

So if the bankruptcy laws permit pensions to be gutted for pennies on the dollar, it doesn't matter what the Michigan Constitution says. This is one of the areas where Federal law trumps state laws and does so fully within the provisions of the United States Constitution.

That's really interesting, thanks for posting. I have a hard time believing that this administration won't meddle in this and obscure if not outright prevent the law taking its course.






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Quidam65
Florida Atlantic Fan
Q Continuum
Member since Jun 2010
8903 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

I have a hard time believing that this administration won't meddle in this and obscure if not outright prevent the law taking its course.


Considering what they did in the GM and Chrysler cases, where secured creditors were shook down to take less than the law allowed, you have a point.






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hawkster
Member since Aug 2010
5021 posts
 Online 

re: Detroit files for Chapter 9 bankruptcy


It's racis to expect da people to pay da bills.





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Sentrius
USA Fan
Fort Rozz
Member since Jun 2011
19753 posts

re: Detroit files for Chapter 9 bankruptcy


Detroit is what happens when you put severely retarded leeches in power positions around the city and then raise taxes a shite ton and run the productive people out of town and then the city starts going downhill when it's nothing but full of retarded leeches and a culture is born that only continues more laziness and slothfulness and blame others for their problems.

We're witnessing the end result of such a scenario. I really hope this is a lesson the rest of America can learn from.

RIP Detroit.






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Elcid96
LSU Fan
Member since May 2010
5301 posts

re: Detroit files for Chapter 9 bankruptcy



By

Rodney Hawkins /
CBS News/ September 3, 2012, 2:31 PM
Biden: We are better off, "bin Laden is dead and General Motors is alive"

So do they get credit for killing Detroit?






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805tiger
LSU Fan
Member since Oct 2011
2482 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

full of retarded leeches and a culture is born that only continues more laziness and slothfulness and blame others for their problems.



Way to paint a broad brush of everyone in Detroit.






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
13950 posts
 Online 

re: Detroit files for Chapter 9 bankruptcy


quote:

Way to paint a broad brush of everyone in Detroit.


Not sure why you're rolling your eyes, it's a pretty accurate brush. How else can you explain how that city destroyed itself? Every Detroit mayor since 1961 has been a liberal. Unions, bailouts, “entitlement programs.” Who elected them?


Detroit was built by Capitalism, and destroyed by Socialism.






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Beer Bryant
Alabama Fan
In a Hidden Bunker
Member since Jan 2012
8792 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

Detroit was built by Capitalism, and destroyed by Socialism.


Look for the Union Label






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dewster
Maryland Fan
Tennessee
Member since Aug 2006
9056 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

Canary.



Yep.






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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
13950 posts
 Online 

re: Detroit files for Chapter 9 bankruptcy




Your move Mr. President






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Sentrius
USA Fan
Fort Rozz
Member since Jun 2011
19753 posts

re: Detroit files for Chapter 9 bankruptcy


quote:

A Detroit city councilwoman said that President Barack Obama should give the city of Detroit a bailout as a “quid pro quo” in exchange for all the votes he received from city residents.

Council member JoAnn Watson made the suggestion at a city council meeting Tuesday, according to Fox 2 News in Detroit.

“Our people in an overwhelming way supported the re-election of this president and there ought to be a quid pro quo and you ought to exercise leadership on that,” she said. “Of course, not just that, but why not?”

The near-bankrupt city votes almost exclusively for Democratic candidates at the local, state, and federal level. Three-quarters of Detroiters voted for Obama.

If the president were to pay the city back for its support, he would not be the first to do so, according to Watson.

“After the election of Jimmy Carter, Mary Coleman Alexander Young went to Washington, DC,” she said. “He came home with some bacon. That’s what you do.”


The spin is strong with this one. Advocating political bribery lol.

Dance puppet!!! Dance!!!






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JBM210
Member since Dec 2010
1498 posts

re: Detroit files for Chapter 9 bankruptcy


Unions,liberals and Dems. Nuff said





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