First large city - BANCKRUPT

Posted in the Minneapolis Forum

First Prev
of 5
Next Last
LIbEralS

Saint Paul, MN

#1 Apr 1, 2013
I would guess that this is just the tip of the iceberg.

A judge accepted the California city of Stockton's bankruptcy application on Monday, making it the most populous city in the nation to enter bankruptcy.

The $900 million that Stockton owes to the California Public Employees Retirement System to cover pension promises is its biggest debt.

http://www.cnbc.com/id/100578156
Bushwhacker

Seattle, WA

#2 Apr 1, 2013
Looks like investors made a bad investment and the city overextended, just like lots of folks. Funny, you'd like to blame the debt, they have to promised pensions. Just what did the workers do wrong, again ??? LMAOROTFU~!
non-starter

Saint Paul, MN

#3 Apr 1, 2013
Legal observers expect the creditors to aggressively challenge Stockton's repayment plan in the next phase of the process.

By 2009 Stockton had accumulated nearly $1 billion in debt on civic improvements, money owed to pay pension contributions, and the most generous health care benefit in the stateŚcoverage for life for all retirees plus a dependent, no matter how long they had worked for the city.

http://www.cnbc.com/id/100578156
Bushwhacker

Seattle, WA

#5 Apr 1, 2013
No spamming about the Eagan Mall ?? Oh right, you're a quitter and wrong about Eagan...
Consistent

Grantsburg, WI

#6 Apr 1, 2013
Bushwhacker wrote:
No spamming about the Eagan Mall ?? Oh right, you're a quitter and wrong about Eagan...
Retard, WTF are you babbling about.....Eagan?

DO NOT POST when your Thorazine has past its 1/2 life!
Obama-dont-care

Minneapolis, MN

#8 Apr 1, 2013
City managers are setting their towns up for failure by commiting to unsustainable payouts for public employee compensation.

Ignorance creates failure.
Bushwhacker

Seattle, WA

#9 Apr 1, 2013
No spamming about the Eagan Mall ?? Oh right, you're a quitter and wrong about Eagan...

Looks like over-investing in infrastructure, AKA bush housing crisis...
Consistent

Grantsburg, WI

#10 Apr 1, 2013
Bushwhacker wrote:
No spamming about the Eagan Mall ?? Oh right, you're a quitter and wrong about Eagan...
Looks like over-investing in infrastructure, AKA bush housing crisis...
Retard, WTF are you babbling about.....Eagan?

DO NOT POST when your Thorazine has past its 1/2 life!
non-starter

Saint Paul, MN

#12 Apr 1, 2013
By 2009 Stockton had accumulated nearly $1 billion in debt on civic improvements, money owed to pay pension contributions, and the most generous health care benefit in the stateŚcoverage for life for all retirees plus a dependent, no matter how long they had worked for the city.

http://www.cnbc.com/id/100578156
Bushwhacker

Seattle, WA

#13 Apr 1, 2013
No spamming about the Eagan Mall ?? Oh right, you're a quitter and wrong about Eagan...

Looks like over-investing in infrastructure, AKA bush housing crisis...
Bushwhacker

Seattle, WA

#14 Apr 1, 2013
BANCKRUPT

Need I say BANKRUPT !!!!!

Poor children, "talking" politics is SO CUTE !!!!

LMAOROTFU!

Almost as funny, as your investing "acumen"....
non-starter

Saint Paul, MN

#15 Apr 1, 2013
By 2009 Stockton had accumulated nearly $1 billion in debt on civic improvements, money owed to pay pension contributions, and the most generous health care benefit in the stateŚcoverage for life for all retirees plus a dependent, no matter how long they had worked for the city.

http://www.cnbc.com/id/100578156

The first of many bankruptcies caused by poor state and local government negotiators and public employee unions around the country.
Bushwhacker

Seattle, WA

#16 Apr 1, 2013
REALLY can't read, right ?? Looks like they overextended and didn't have the MONEY !!!

...civic improvements.."

BANCKRUPT

Need I say BANKRUPT !!!!!

Poor children, "talking" politics is SO CUTE !!!!

LMAOROTFU!

Almost as funny, as your investing "acumen"....
Bushwhacker

Seattle, WA

#17 Apr 1, 2013
"Promised pension benefits are protected under both state and federal law."

Pretty sad, if the pensions aren't protected, taxpayers will be on the hook and pensioners will get less than what they've EARNED !!!

Pitting money making creditors against the elderly and you're with the investors/creditors ???

I like your stupidity... now we're guaranteeing/enforcing investments, but not contracts ???

Guess, you advocate theft, huh ?
Obama-dont-care

Minneapolis, MN

#18 Apr 1, 2013
How can educated mangers allow this to occur?
Bushwhacker

Seattle, WA

#19 Apr 1, 2013
"Promised pension benefits are protected under both state and federal law."

Pretty sad, if the pensions aren't protected, taxpayers will be on the hook and pensioners will get less than what they've EARNED !!!

Pitting money making creditors against the elderly and you're with the investors/creditors ???

I like your stupidity... now we're guaranteeing/enforcing investments, but not contracts ???

Guess, you advocate theft, huh ?
scooby slew

Saint Paul, MN

#20 Apr 1, 2013
Bushwhacker wrote:
"Promised pension benefits are protected under both state and federal law."
Pretty sad, if the pensions aren't protected, taxpayers will be on the hook and pensioners will get less than what they've EARNED !!!
Pitting money making creditors against the elderly and you're with the investors/creditors ???
I like your stupidity... now we're guaranteeing/enforcing investments, but not contracts ???
Guess, you advocate theft, huh ?
We all remember you only pretend to know stuff slew.
Bushwhacker wrote:
I hope you pick stocks as well as you pretend to "KNOW" stuff ? Oh right, I do THAT !!! What do you do again ? Childish noises, right ?
Well, you at least admitted by your statement that you only pretend to know stuff. Shouldn't you be getting back to your whacking in the bushes?

There you go slew slew, pretending to know stuff again.
LIbEralS

Saint Paul, MN

#21 Apr 2, 2013
Bushwhacker wrote:
BANCKRUPT
Need I say BANKRUPT !!!!!
Poor children, "talking" politics is SO CUTE !!!!
LMAOROTFU!
Almost as funny, as your investing "acumen"....
I'm surprised it took you son long to catch the typo. You're slipping...
Obama-Dont-Care

Minneapolis, MN

#22 Apr 2, 2013
Blue town bankrupt..

Surprise?
Bushwhacker

Seattle, WA

#23 Apr 2, 2013
REALLY can't read, right ?? Looks like they overextended and didn't have the MONEY !!!

...civic improvements.."

BANCKRUPT

Need I say BANKRUPT !!!!!

Poor children, "talking" politics is SO CUTE !!!!

LMAOROTFU!

Almost as funny, as your investing "acumen"....

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 5
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
Muslims are a threat 42 min Space ace 18
Minneapolis schools superintendent FIRED 2 hr Sunshine 8
Veteran Freed From MSP VA Dental Dept Phone Abu... 3 hr American_Sons 10
Man Shoots Self After Leading Mankato Police On... 10 hr DILF 49
Global warming 'undeniable,' scientists say (Jul '10) 12 hr Earthling-1 33,452
Unconstitutional Violation of Separation of Powers Tue LIbEralS 1
Iggy Azalea to headline Target Center on April 30 Tue cowboy chris 1
Minneapolis Dating
Find my Match

Minneapolis People Search

Addresses and phone numbers for FREE

Minneapolis News, Events & Info

Click for news, events and info in Minneapolis

Personal Finance

Mortgages [ See current mortgage rates ]

NFL Latest News

Updated 7:04 am PST

NFL 7:04AM
Randall Cobb should be re-signed, Aaron Rodgers says
Bleacher Report 7:57 AM
NFL Playoffs: What the Green Bay Packers Need to Do to Make a Super Bowl Run
Bleacher Report10:24 AM
Vikings vs. Dolphins: Breaking Down Miami's Game Plan
Bleacher Report11:11 AM
5 Bold Predictions for Vikings' Week 16 Matchup
ESPN 1:37 PM
Pack name playoff captains before clinching