Detroit Files For Bankruptcy
- Thread starter Straight Shooter
- Start date
Philbert
Banned
Didn't you just post this about someone else posting pasted articles? It's not like no one has TV News, or Yahoo, or any news feeds at the bottom of the page (like Bing, and every browser homepage); can't come up with any topics of discussion on your own?
Anyway, Detroit is just another Demotard admin city like almost every other bankrupt city out there of any size.
Or like the State of (insolvency) California.
Old news.
You see the difference is that I like to create threads that are of some importance. Detroit going bankrupt is a major news story, it's actually the largest city ever to declare bankruptcy. This is compared to someone else on here who creates multiple threads daily about random and irrelevant things such as a black person that he admires or if you would butt fuck Nancy Pelosi. Furthermore I'm not creating multiple threads everyday and clogging up the main page. If you have a problem with the quote that I posted, take it up with Andronicus, as those are his words not mine.
Wasn't it the fucking Douchebag Kwame Kilpatrick the mayor of this town? http://en.wikipedia.org/wiki/Kwame_Kilpatrick If the part of motown is ruined since the recent years, it is mainly thanks to this douchebag.
You create threads that are more or less representative of the obama electorate, just admit it.
You tell me? You can go to my profile and take a look at all the threads that I have created. Let me know which ones are representative of the Obama administration.....moving along, Detroit has been in decline for a while now and I think the financial crisis in 2008 only made it worse. I don't follow local Detroit news that much so maybe those on here who live in the Detroit area can provide some in depth information
Ace Boobtoucher
Founder and Captain of the Douchepatrol
Detroit had a population of over two million people in the 50s. Now it is around 700k. I think raising property taxes to the statutory limit had some effect. And the retards.......I'm sorry.......I mean registered democrats, keep electing people who continue to implement failed policies and expect different results.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
BUY ALL OF THE SPORTS SHIT! The teams, their arenas, licensing. Pay these folks for risks and rewards. Build it better and keep it going. Detroit is a fabulous sports town. ( Don't go making your own shit and selling it like it was your's. That would be illegal and we should not do illegal things. Just saying...)
10 minutes to edit. We've got the Corey Booker thing going on here. If you want to say anything bad about the guy, only post shit with links.
10 minutes to edit. We've got the Corey Booker thing going on here. If you want to say anything bad about the guy, only post shit with links.
Hey, they didn't want to go Bankrupt. They tried not to go this path, but they have about $4B in debt they can't service.
You're going to have to break all the contracts - salary, pension, healthcare and re-write them and slash the expenses across the board. If that could have been done, perhaps it could have been avoided.
Collective bargaining with politicians is a problem. Politicians use tax payers to, if not buy votes, keep the unions from being unhappy with them.
I don't think the Federal Government is in this state (yet?). It does make me think when the cop in my neighborhood is retired at 40 on full pay and full benefits. Not disability. Someone is paying for this and if you tell me that his retirement investments are handling it, I want to meet the financial person who is doing the investments because he is better than I am at it. So, in reality it is a NO PAY pension. No pay benefits. Close to no co-pay. Isn't that what drives the problem?
Look at Senate pension. Really? Do we really need that? Are you telling me that they earn it?
If you loose half your population over the past 40 years or so, how do you fund this expense "until death"? You work to fund the healthcare and pension and if they're gone, you don't have the money.
I don't blame the workers, other than their participation. I do blame union leadership and politicians.
Anecdotally, I have a neighbor who is a retired 41 year old cop. He said, "I could have made much more money had I gone onto another career." I'm as asshole, I called him on it. No he could not. He went into this career for the security. He is a Nassau County cop. He never drew he weapon, never injured...and if he did this altruistically, why would you stop at the first opportunity. So, for him, I call Bullshit. Plus the meaner side of me ask him why he isn't using the next 20 years to engage in that "other" career. No answer This is not on his shoulders though and he isn't a bad guy.
So, while I rant...lets not forget Wall Street. They underwrote the bonds. They made a pile of cash doing it. How do you do the credit analysis to sell bonds for a city like Detroit?
So, houses and land are now cheap. They will break contracts to put them on a budget they can afford. Next will be drop taxes to attract people and business back.
You're going to have to break all the contracts - salary, pension, healthcare and re-write them and slash the expenses across the board. If that could have been done, perhaps it could have been avoided.
Collective bargaining with politicians is a problem. Politicians use tax payers to, if not buy votes, keep the unions from being unhappy with them.
I don't think the Federal Government is in this state (yet?). It does make me think when the cop in my neighborhood is retired at 40 on full pay and full benefits. Not disability. Someone is paying for this and if you tell me that his retirement investments are handling it, I want to meet the financial person who is doing the investments because he is better than I am at it. So, in reality it is a NO PAY pension. No pay benefits. Close to no co-pay. Isn't that what drives the problem?
Look at Senate pension. Really? Do we really need that? Are you telling me that they earn it?
If you loose half your population over the past 40 years or so, how do you fund this expense "until death"? You work to fund the healthcare and pension and if they're gone, you don't have the money.
I don't blame the workers, other than their participation. I do blame union leadership and politicians.
Anecdotally, I have a neighbor who is a retired 41 year old cop. He said, "I could have made much more money had I gone onto another career." I'm as asshole, I called him on it. No he could not. He went into this career for the security. He is a Nassau County cop. He never drew he weapon, never injured...and if he did this altruistically, why would you stop at the first opportunity. So, for him, I call Bullshit. Plus the meaner side of me ask him why he isn't using the next 20 years to engage in that "other" career. No answer This is not on his shoulders though and he isn't a bad guy.
So, while I rant...lets not forget Wall Street. They underwrote the bonds. They made a pile of cash doing it. How do you do the credit analysis to sell bonds for a city like Detroit?
So, houses and land are now cheap. They will break contracts to put them on a budget they can afford. Next will be drop taxes to attract people and business back.
meesterperfect
Hiliary 2020
it used to be called the Paris of the USA...........or something.
Now it looks more like Hiroshima circa 1946..........and that aint no joke.
It used to be one of the most affluent cities.
So what happened?
We all know who did this to Detroit.
That would be the GOVERNMENT on the municipal, city, state and federal levels.
Detroit should be a shining example of what will become of the whole country if something doesnt change big time and soon.
Here is a list of the Mayors of Detroit , notice what political party has had control in the past 50 years.
http://en.wikipedia.org/wiki/List_of_mayors_of_Detroit
Now it looks more like Hiroshima circa 1946..........and that aint no joke.
It used to be one of the most affluent cities.
So what happened?
We all know who did this to Detroit.
That would be the GOVERNMENT on the municipal, city, state and federal levels.
Detroit should be a shining example of what will become of the whole country if something doesnt change big time and soon.
Here is a list of the Mayors of Detroit , notice what political party has had control in the past 50 years.
http://en.wikipedia.org/wiki/List_of_mayors_of_Detroit
HehehehehehehehehehahaHyena
Closed Account
I'm sure they'll get bailed out; the banks did after all.
Yes, and to my point(s) before:
-Who makes money on the bonds that were sold for Detroit? Certainly not the investor. They will be the first to lose. Wall street...and of course the city who just took the money.
-Who will pay, if there is a bailout? If the federal government bailed them out, tack it onto the debt, raise taxes (with Affordable Health Care looming...how wonderful)
-Big question - Will they break government union contracts? If they have an ethical bone in their body, they will.
-Will they recover? Not with the taxes the way they are. They will have to lower them or offer big incentives.
Politicians, Wall Street, and the Government Unions all took here. Collective bargaining with the tax payers money when they are not represented doesn't seem funny to me at all.
Spot on
The worst part Detroit has allot going on these days, but serious bad timing. i have lived within 10 miles my whole life, now less tha 1. Between Mike Illitch and his new 650 million new Red Wings complex and Dan Gilbert investing in the city. Nightlife, unique eateries, bars, midtown have seen a ton of growth. You can write off the city, which is easy! But there are a ton of people that still support the city and it has shown lately.
bobjustbob
Proud member of FreeOnes Hall Of Fame. Retired to
Detroit will get back on course. The city is too big to fail. Yea, they may fall into bankruptcy, but like I said, too big to fail. Discount housing and office space will drive money there. A sorry place to live but opportunity exists.
the issues started well before Kwame even know he was a crook in a douchebag he learned everything from the Coleman Young administration which had power for 30 years on this town
Dennis Archer was an excellent Mayor, had things turning around to have the debt going down ,services is going well but it was the ignorance on council but drove him out of the mayor's office
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Dennis Archer was an excellent Mayor, had things turning around to have the debt going down ,services is going well but it was the ignorance on council but drove him out of the mayor's office
So, you're saying that if Detroit lowers taxes and other barriers to those who are producing goods and services, it will result in economic growth?
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