OpieRadio Logo
Compound Media Logo
Jim Norton Logo

Detroit Files for Bankruptcy.

Discussion in 'Current Events' started by the Streif, Jul 18, 2013.

  1. the Streif

    the Streif ¡¡¡¡sıʞunɹɹɹɹɹɹɹℲ
    Donator

    Joined:
    Aug 25, 2002
    Messages:
    14,910
    Likes Received:
    5,847
    Who saw this coming?:rolleyes:

    http://money.cnn.com/2013/07/18/news/economy/detroit-bankruptcy/index.html
     
    Lord Zero and Neckbeard like this.
  2. Norm Stansfield

    Norm Stansfield 私は亀が好きだ。

    Joined:
    Mar 17, 2009
    Messages:
    15,949
    Likes Received:
    4,077
    As if not cutting those pensions is an actual option. There's no reason for the Supreme Court to tell these people that the money they were promised doesn't exist. It would be like asking the Supreme Court to rule that water is wet. We just don't know whether water is wet. There's not enough case law on that, your honors, please help us out and tell us.
     
    Neckbeard likes this.
  3. Yesterdays Hero

    Yesterdays Hero She's better than you, Smirkalicious.

    Joined:
    Jan 25, 2007
    Messages:
    16,241
    Likes Received:
    3,870
    Wonder if they'd need to file bankruptcy if all the Apes paid income tax like normal Americans.
     
    Ego and Neckbeard like this.
  4. Neckbeard

    Neckbeard I'm Team Piggy!

    Joined:
    Oct 26, 2011
    Messages:
    24,726
    Likes Received:
    15,097
    NAGGERS GONNA ANNOY YOU.
     
    soiledshorts79 likes this.
  5. DanaReevesLungs

    DanaReevesLungs I can keep rhythm with no metronome...
    Donator

    Joined:
    Jun 9, 2005
    Messages:
    9,132
    Likes Received:
    2,534
    So, wait, you mean spending more than the revenue that comes in can lead to bankruptcy? Why color me shocked.
     
    Neckbeard likes this.
  6. fletcher

    fletcher Darkness always says hello.
    Donator

    Joined:
    Feb 20, 2006
    Messages:
    59,552
    Likes Received:
    19,770
    Finally.
     
    Neckbeard likes this.
  7. Neckbeard

    Neckbeard I'm Team Piggy!

    Joined:
    Oct 26, 2011
    Messages:
    24,726
    Likes Received:
    15,097
    The racist emergency manager? A black man CEO, by the way. RAYCISS.
     
  8. gorram

    gorram ;)

    Joined:
    Apr 30, 2011
    Messages:
    34,640
    Likes Received:
    91,710
    Not always: http://www.usdebtclock.org/
     
    Neckbeard likes this.
  9. freddyfox

    freddyfox Registered User

    Joined:
    May 19, 2009
    Messages:
    268
    Likes Received:
    107
    This is gonna be fun. So now two pension fund boards are gonna sue the city of Detroit.

    http://www.freep.com/article/20130718/NEWS01/307180125/

    So Detroit gave banks several billion dollars to invest. Those banks then proceeded to toss the money into volatile investments known as derivatives/credit default swaps. Detroit lost its ass on these investments. Union pensions won't take anything less than 100%. They'd rather see the whole ship go down than restructure pension plans. Here's a list of Detroit's creditors:

    http://www.freep.com/article/20130718/NEWS01/307180122/Emergency-manager-Detroit-creditors-Kevyn-Orr

    It would be a huge waste of money for our government to bail out Detroit since Detroit doesn't have a tax base proportionate to its liabilities. Detroit would just be "in the red" again next year.
     
    Neckbeard and lajikal like this.
  10. jnoble

    jnoble Lingering longer for a longering linger

    Joined:
    Dec 4, 2005
    Messages:
    8,227
    Likes Received:
    4,089
    It would be a hoot if they changed the state motto to "Michigan: The Gibsmedat State" or "Detroit: We broke, nigga!" :haha7:
     
    JonBenetRamsey and Neckbeard like this.
  11. the Streif

    the Streif ¡¡¡¡sıʞunɹɹɹɹɹɹɹℲ
    Donator

    Joined:
    Aug 25, 2002
    Messages:
    14,910
    Likes Received:
    5,847
    Ok, you're black!!

    [​IMG]
     
  12. f kane

    f kane Known Traffic Menace

    Joined:
    Feb 10, 2010
    Messages:
    798
    Likes Received:
    234
    Media and pundits blaming it on Republicans in 3 2 1...
     
    Neckbeard likes this.
  13. jnoble

    jnoble Lingering longer for a longering linger

    Joined:
    Dec 4, 2005
    Messages:
    8,227
    Likes Received:
    4,089

    (angry typing guy voice) YOU KNOW...IF THE RICH WERE PAYING THEIR FAIR SHARE AND THE GREEDY BANKERS AND WALL STREET AND BUSH'S TWO ILLEGAL WARS THAT WEREN'T PAYED FOR.... (angry typing guy voice)
     
    Neckbeard and f kane like this.
  14. jnoble

    jnoble Lingering longer for a longering linger

    Joined:
    Dec 4, 2005
    Messages:
    8,227
    Likes Received:
    4,089
    When I first got interested in politics years ago and read Rush's first book, something he pointed out is totally true: The ONLY time you EVER hear liberal Democrats and the media whine "how can we afford it?" is either proposed tax cuts or funding to a military action. That's it. Jus those two things.You will never ever hear "can we afford it?" concerning anything else. Especially if it's supposedly to help the children or "the poor" or the motherfucking environment
     
    Neckbeard and weeniewawa like this.
  15. Atomic Fireball

    Atomic Fireball Well-Known Member
    Donator

    Joined:
    Jul 26, 2005
    Messages:
    6,057
    Likes Received:
    3,988
    but but but it's the red states that get all the federal dollars
     
  16. mrbucket75

    mrbucket75 Registered User

    Joined:
    Jan 9, 2009
    Messages:
    1,465
    Likes Received:
    574
    How about cities becoming responsible for extended costs on employees. Most people nowadays have to work until they cant. Money income on most cities cant pay for extended benefits and retirement on employees. Time to start being responsible and just be honest about the future.
     
    Neckbeard likes this.
  17. weeniewawa

    weeniewawa it's a man, baby!!!

    Joined:
    May 21, 2005
    Messages:
    12,076
    Likes Received:
    1,266
    socialists have been running this city for 50 years and banking their whole roll on the auto industry

    the unions killed GM and Chrysler and now killed detroit

    that town along with shitcago need a good nuking
     
    Neckbeard likes this.
  18. DrewDown

    DrewDown All are welcome

    Joined:
    May 3, 2010
    Messages:
    10,508
    Likes Received:
    5,819

    Now how the fuck do we 'pose to keep peace?
     
    Neckbeard, lajikal and gorram like this.
  19. Lord Zero

    Lord Zero Viciously Silly

    Joined:
    Aug 25, 2008
    Messages:
    54,072
    Likes Received:
    12,883
    Detroit should get a fucking job.
     
    Neckbeard and soiledshorts79 like this.
  20. Don the Radio Guy

    Donator

    Joined:
    Mar 30, 2006
    Messages:
    69,628
    Likes Received:
    5,082

    The official democrat Twitter blamed it on Mitt Romney. No fucking joke.

    It now appears they've deleted that Tweet.
     
    Neckbeard likes this.
  21. Don the Radio Guy

    Donator

    Joined:
    Mar 30, 2006
    Messages:
    69,628
    Likes Received:
    5,082

    Take mineral rights royalty payments out of the mix, and that's not true.
     
  22. Ballbuster1

    Ballbuster1 In The Danger Zone...
    Wackbag Staff

    Joined:
    Aug 26, 2002
    Messages:
    101,970
    Likes Received:
    16,339
    What a shock. They give out overpriced salaries and pensions in
    a city full of non-taxpayers and they're broke. Who saw that one
    coming besides everyone but the city council and the employees
    who were in line for those salaries and pensions?

    And of course the non-taxpayers since they don't pay shit and most
    likely have a friend or relative that will benefit from this shit.
     
  23. Ego

    Ego The Only Thing Bigger Than My Head

    Joined:
    Feb 15, 2005
    Messages:
    4,339
    Likes Received:
    700
    Is it possible for a city to have its charter revoked in this day and age? Their shitty management system has led to this, and they deserve to be written out of existence.
     
  24. Begbie

    Begbie Wackbag Generalissimo

    Joined:
    Jul 21, 2003
    Messages:
    17,652
    Likes Received:
    4,977
    The Great Decline of Detroit has been going on for years. Wasn't it at one point, a city of 1.8M residents? So on one hand, you've got plummeting population, to the tune of 1.1M people over decades. And on the other, you have a corrupt, ultra liberal city government that has spent decades trying to spend their way out of debt. You've got the working class moving out of city limits, and the gibmedats moving in/staying.

    This certainly should come as no surprise to anyone.

    Clearly, these city leaders have never played SimCity.
     
    Neckbeard likes this.
  25. gleet

    gleet What's black and white and red all over?

    Joined:
    Jul 24, 2005
    Messages:
    22,543
    Likes Received:
    13,852
    Lucky the city has a local resource to raise all the quick cash they could ever need.


    [​IMG]
     
    stevethrower and CougarHunter like this.

Share This Page