Detroit bankruptcy judge finally gets his big case

Jul 23, 2013 | Posted by: roboblogger | Full story: Reuters

When Judge Steven Rhodes convenes the first hearing in Detroit's bankruptcy on Wednesday, more than a hint of irony will permeate the city's federal courthouse.

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1 - 5 of 5 Comments Last updated Jul 26, 2013
Sterkfontein Swartkrans

Pennington, NJ

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#3
Jul 24, 2013
 

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Motown is LessTown wrote:
I hope the Tigers win the World Series. Detroit is the only place where a sports riot would make it look better.
You've obviously never been to Philly!!(the next Detroit)
Robert

Douglasville, GA

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#4
Jul 24, 2013
 
This is what happens when a government makes promises that future taxpayers have to live up to and you get to those future tax payers and they can't.
fingiswold

Newark, OH

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#7
Jul 24, 2013
 

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Eighthman wrote:
Michigan democrats should look back on their miserable lives and say to themselves "Why in God's name did I ever became a DEMOCRAT???"
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Poor stupid democrats. It's Obamaland in Detroit.
michigan republicans take over, appoint expert, city declares bankruptcy...pretty clear-cut that the gop is the problem here

why in satan's name did you ever become an asstroll?
Robert

Douglasville, GA

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#8
Jul 25, 2013
 

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Unions and run away taxes have become quite the problem for Michigan.
Since US made autos were made in Detroit they did not have to compete with states who had more company friendly labor laws so they continued to do what they wanted. Just as politicians in Detroit borrowed money which had to be paid back by future tax payers with no real plan on how they would be more able to pay then than current tax payers. Union workers did the same thing with cars, loading cars down with legacy cost for sterling pensions and healthcare benefits. Benefits which they knew good and well could not continue. The cars would get to the point that too much of the cost of the car whet to pay for benefits the company could not really afford. This made their product less competitive and they lost market share and we saw how that worked out in the end, GM went bankrupt.
Now the motor city has not the same problem but it does have similarities. They kicked the can down the road by borrowing money to keep the city going instead of cutting the government. They knew they could not pay it back but just as GM could not fix its problems because of the power of the unions the city could not fix its problems because of the voters who were voting for what they wanted not for what they could afford.
The only solution for this is the same one the politicians bypassed to kick the can down the road. Pain, it is going to hurt, that is why they did not do it. There is going to be pain for the people without city services, there is going to be pain for the people who lost buying Detroit bonds. The pain is what keeps people from doing it again, find a way around it and you will find a way to relive your past mistakes.
fingiswold

Newark, OH

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#12
Jul 26, 2013
 
Eighthman wrote:
<quoted text>HAHAHAAHAHAHAHAHAHAHAH HAHA you are SOOOOOOOOO Stupid
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHA HAHHAHAHAHAHAHAHAHAHHAHAHAHAHA HHA
No wonder Creepocrat cities go under with mindless boobs like you.
HAHAHAHAHAHAHAHAHAHAHAHAHHAHAH AHAHAHAHAHAHAHHAHA
SOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOOOO STUPID
Like it happened OVERNIGHT!!!
HAHHAAHAHAHAAHAHAHAHAHAHAAHAHH AHAHAHAHAHAHAHAAHAHAHAHAHAHAHA HHAHAHAHAHAHAHAH MOORROONN
HAHAHAHAHAHAHAHAHAHAHAHHAHAHAA HHAHAHAHAHAHAHAHAHAHHAHAHAA
moronic laughter's an answer, now?

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