Detroit files for bankruptcy, stage set for court fight

Jul 19, 2013 | Posted by: roboblogger | Full story: West Australian

Detroit filed the largest-ever municipal bankruptcy in U.S. history on Thursday, marking a new low for a city that was the cradle of the U.S. automotive industry and setting the stage for a costly court battle with creditors.

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“I just hate stupid people”

Since: Apr 07

DEEP SOUTHERN ILLINOIS

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#5
Jul 19, 2013
 

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Gone like a 59 Cadillac...........

Since: Nov 08

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#7
Jul 19, 2013
 

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Motown is LessTown wrote:
Q: Why do ducks fly over Detroit upside-down?
A: Because there's nothing worth crapping on.
Mo debt, Mo Obama Phones, Mo black politicians, Mo crime, Mo graft and less money.

Since: Nov 08

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#8
Jul 19, 2013
 

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HISTORIC: DETROIT GOES BANKRUPT...

Filing Paints Bleak Picture of Motor City...

Pension Funds Sue to Block...

City official demands federal taxpayer bailout...

FLASHBACK: Obama 2012:'We refused to let Detroit go bankrupt'...
Lamer

Hopkins, MN

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#10
Jul 19, 2013
 

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What is all this talk about democrats? Michigan is repub controled and those repub leaders put an economic overseer in place. Same tactics that failed in the rest of the state.

All those democrats your going on about in this thread, they were elected at the city level; but with the repubs at the state level putting in their overseer, those democraticly elected democrats have no power over the economics of detroit.

No surprise most of you here dont have a clue...
serfs up

Ormond Beach, FL

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#11
Jul 19, 2013
 

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Lamer wrote:
What is all this talk about democrats? Michigan is repub controled and those repub leaders put an economic overseer in place. Same tactics that failed in the rest of the state.
All those democrats your going on about in this thread, they were elected at the city level; but with the repubs at the state level putting in their overseer, those democraticly elected democrats have no power over the economics of detroit.
No surprise most of you here dont have a clue...
The city was progressive Dem since 1961. Even with older infrastructure in place car manufacturers stayed away. Including the domestic ones. The memories of the lemons built there from many American customers is painful. Loyalty kept people coming back. Getting the finger when things went wrong left scars. Overpaid union bums who are sucking the tit to the mas even now in retirement and management that was slow to respond to changes in technologies and vehicles that would last longer help to destroy that town. With the help of progressive mayors with their "answers to the problem" that finished one of the greatest industrial cities in history, this should be a lesson to everyone. But it is not. This is like a nuke detonation from a neutron bomb without the blast and an endless amount of taxpayer money funneling in to pay of the residents.

Since: Feb 07

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#12
Jul 19, 2013
 

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This is a PreCurser for California fall-out on the states still standing.
Law and Order

Madison, CT

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#13
Jul 19, 2013
 

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Le Jimbo wrote:
HISTORIC: DETROIT GOES BANKRUPT...
Filing Paints Bleak Picture of Motor City...
Pension Funds Sue to Block...
City official demands federal taxpayer bailout...
FLASHBACK: Obama 2012:'We refused to let Detroit go bankrupt'...
Napalm would solve the problem!!!!!
See the Light

El Paso, TX

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#14
Jul 19, 2013
 

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Lamer wrote:
What is all this talk about democrats? Michigan is repub controled and those repub leaders put an economic overseer in place. Same tactics that failed in the rest of the state.
All those democrats your going on about in this thread, they were elected at the city level; but with the repubs at the state level putting in their overseer, those democraticly elected democrats have no power over the economics of detroit.
No surprise most of you here dont have a clue...
Wrong! They have been Democrapper controlled for over 50 years. That's why their broke. Bunch of ignoramuses, your reaping what you sow. Eat Crow and call Mitt Romney.
Lamer

Hopkins, MN

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#15
Jul 19, 2013
 

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See the Light wrote:
<quoted text>Wrong! They have been Democrapper controlled for over 50 years. That's why their broke. Bunch of ignoramuses, your reaping what you sow. Eat Crow and call Mitt Romney.
Michigan is democrat controled? This is the exact retardness i have been talking about that plagues topix...
See the Light

El Paso, TX

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#16
Jul 19, 2013
 

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Lamer wrote:
<quoted text>
Michigan is democrat controled? This is the exact retardness i have been talking about that plagues topix...
!I had just looked it up before I made the comment, why don't you.
Lamer

Hopkins, MN

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#17
Jul 19, 2013
 

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See the Light wrote:
<quoted text>!I had just looked it up before I made the comment, why don't you.
I do not need to as i already know. If you looked it up then you would know too. They took control in 2010.

So much for "dem have been in control for over 50 years" - seethelight

The repubs started losing ground again in 2012 but are still in control...Must suck to fail even when you look it up...
Dan Salazar

AOL

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#18
Jul 19, 2013
 

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Anthony Weinerdog wrote:
see what happens when you vote democrat
This is just the beginning of the financial collapse assured by massive numbers of UNFUNDED Pensions traded by heartless Blue State "democrats" for Union campaign support.

The Extortion is reaching critical mass in the State's like CA and NY where "democrats" passed "Pension Spiking' as a method of robbing and defrauding their OWN children and grand children of any hopes for a bright, financially secure future.

Since: Nov 10

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#19
Jul 19, 2013
 

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Here's another reason why Detroit failed: My girlfreind and I were Physicians in Residency/training in the 80's in Detroit and we loved to go to Greek Town and the RenCen after dinner. We stopped going afte 6-7 black thugs(yup looked like Trayvon in spades and as Obama's mythical sons would) physically assaulted me and sexually battered my Physician girlfriend as we walked the bricks. I bought a gun that week and still carry-for the grace of GOD I have not had to use it as Zimm felt he had to...
See the Light

El Paso, TX

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#20
Jul 19, 2013
 

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Lamer wrote:
<quoted text>
I do not need to as i already know. If you looked it up then you would know too. They took control in 2010.
So much for "dem have been in control for over 50 years" - seethelight
The repubs started losing ground again in 2012 but are still in control...Must suck to fail even when you look it up...
Your'e afraid to look up because you know your wrong, but keep your hallucinations, I don't care.
whos next

Saltsburg, PA

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#23
Jul 19, 2013
 

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question mark........... and 82 percent DETROIT.... one of the bastions of lbj, democrats, welfare, blackfare , where 82% of the population are black.
Responsibility

Petaluma, CA

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#24
Jul 19, 2013
 

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Un-hyphenated American wrote:
6-7 black thugs(yup looked like Trayvon in spades
Any town (including Detroit) is lucky for your absence.

Since: Feb 07

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#25
Jul 19, 2013
 

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Every STATE Capital should draft laws to protect itself from this and CA.
SantaOBAMA will over promise for the AGENDA.

Since: Nov 10

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#26
Jul 19, 2013
 

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RayOne wrote:
Every STATE Capital should draft laws to protect itself from this and CA.
SantaOBAMA will over promise for the AGENDA.
If Obama had a City...it would look like Detroit!

“Open your eyes”

Since: Sep 09

Central Florida

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#27
Jul 19, 2013
 

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*sigh*

It is apparent that many of you still do not see the forest through the trees and continue the pointing of finger blame game. "It's the Democrats fault", or, "It's the Republican's fault" BLAH BLAH BLAH. You idiots still think it is a failure of a specific political party.

Well news flash people. It is not. This is a perfect example of globalism at it's finest. The off shoring of jobs in manufacturing is the cause of this. Coupled with Free Trade agreements like NAFTA and corruption running amuck, present day Detroit is what you got.

Now think about it. When was the last time Detroit was going well? 60's, 70's, 80's? Ok, what was going on then? The cold war and Iron Curtain. But not just the Iron Curtain, the Chinese were behind the Bamboo Curtain. That the US as really the only true manufacturing center on the globe. Yeah there was Japan, but, Japan's growth was because the Japanese were dumping in billions of Yen into their own markets.

After the Iron curtain and Bamboo curtain fell, this flooded the globe with cheap and available slave labor. With both Democrats and Republicans together working on Free Trade agreements, it became cheaper for manufacturers to off shore these manufacturing centers into China, Russia, India, and Indonesia and not have to pay the higher taxes and benefits. They only had to pay very low to little import tariffs.

So some of you need to look at the root problem, because, you are clueless on the reasoning for the fall of Detroit.

Another aspect to remember is the dot com bubbles of the 90's and the housing bubbles. Cities, counties, and municipalities all over the US tied their retirement funds and excess surplus's into these Wall Street securities that were AAA rated but nothing more than massive piles of shit. And when the markets collapsed. All that money they invested outside approval of the citizens were also lost.

So wake up people. The system is the issue. Political parties nothing more than mouth pieces.
Weatherbrain

Stillwater, OK

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#28
Jul 19, 2013
 

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There’s “an elephant in the living room", and it isn't the GOP :)
More than a half- century of one-party socialist rule in our major cities has been an abominable failure.[See: Detroit]. They have to blame someone or something other than themselves.

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