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Detroit emergency manager files bankruptcy (AP Breaking)
AP ^ | 7-18-13 | AP

Posted on 07/18/2013 1:27:38 PM PDT by tcrlaf

DETROIT (AP) -- Detroit has become the largest city in U.S. history to file for bankruptcy.

State-appointed emergency manager Kevyn Orr on Thursday asked a federal judge permission to place the city into Chapter 9 bankruptcy protection.

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; US: Michigan
KEYWORDS: bankruptcy; deserved; detroit; michigan
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To: catnipman

Foot in mouth.....hows that looking now there Joe.

https://www.youtube.com/watch?v=62KRYbvgCQE

Biden (VP Debate 2012): Romney Would Have “Let Detroit Go Bankrupt”


61 posted on 07/18/2013 2:20:09 PM PDT by sunmars
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To: sunmars

White House says Obama and his senior team continue to closely monitor Detroit bankruptcy......

and yet will do nothing but try and score political points...you lost already.


62 posted on 07/18/2013 2:21:42 PM PDT by sunmars
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To: Stormdog

If I had that son and daughter, I would fire both of them.


63 posted on 07/18/2013 2:22:12 PM PDT by stephenjohnbanker (K I L L T H E B I L L !!)
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To: tcrlaf

Will FEMA be involved, at some point in time? Just wondering, where this well-staged opus will travel...perhaps, as an introduction, of a federal purpose.


64 posted on 07/18/2013 2:26:23 PM PDT by RedHeeler
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To: tcrlaf

Democrats will report this as a success.
“this is wonderful” with the creepy smile of angela corey.

Obama can’t GM this.


65 posted on 07/18/2013 2:28:20 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: Morgana

“what is that theatre? It looks like it was beautiful at one time.”

Most of Detroit was beautiful until Rat politics consumed it from within


66 posted on 07/18/2013 2:29:29 PM PDT by varyouga
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To: tcrlaf

Example of why Municipal Bonds aren’t attractive anymore.


67 posted on 07/18/2013 2:35:06 PM PDT by kjam22 (my newest music video:http://www.youtube.com/watch?v=l7gNI9bWO3s)
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To: MrEdd

“Then states like California and New York. But it is all going to fall. Math has no mercy.”

Throw NJ in there, too (for the same reasons). Americans and the companies that employ them are fleeing in droves, leaving behind the permanent underclass, immigrants (legal & otherwise), and the public employees required to “administer” them (even though many of them have already lost their jobs).

My children commented on how much damage still exists along the Jersey shore from Sandy; I told them there weren’t enough people with reasons to fix it. Who wants to invest in parks/beaches just to show up and be the only taxpayer there?


68 posted on 07/18/2013 2:35:23 PM PDT by kearnyirish2 (Affirmative action is economic war against white males (and therefore white families).)
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To: Doctor 2Brains
“YOU will be paying those pensions. Guaranteed. So will I, of course.”

There is a very interesting article in the Wall Street Journal today (page A5). It says Kevyn Orr, the Detroit emergency manager, went to VALERIE JARRETT to ask for a government bailout, and was told no by Jarrett.

It really shines a light on who is making decisions in the White House.

Scary. Obama is a teleprompter reader and nothing more. An empty suit.

69 posted on 07/18/2013 2:38:05 PM PDT by Gabrial (The nightmare will continue as long as the nightmare is in the Whitehouse.)
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To: Gabrial

Agree about Obama. I’ve been convinced for sometime now that he makes no decisions. He reads what they tell him to read. He does what they say and in exchange, he and his wife get to “live the dream” for 8 years. That’s it.


70 posted on 07/18/2013 2:39:33 PM PDT by kjam22 (my newest music video:http://www.youtube.com/watch?v=l7gNI9bWO3s)
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To: stephenjohnbanker

“If I had that son and daughter, I would fire both of them.”

You know the old saying about not being able to pick your relatives...


71 posted on 07/18/2013 2:40:55 PM PDT by Stormdog (A rifle transforms one from subject to Citizen)
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To: Stormdog

But you can still pick the ones you want fired : )


72 posted on 07/18/2013 2:42:42 PM PDT by stephenjohnbanker (K I L L T H E B I L L !!)
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To: stephenjohnbanker

“But you can still pick the ones you want fired : )”

OK you win!


73 posted on 07/18/2013 2:49:33 PM PDT by Stormdog (A rifle transforms one from subject to Citizen)
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To: MrEdd

“Detroit and other big cities will crash first.

Then states like California and New York.

But it is all going to fall. Math has no mercy.”

Very perceptive. You just can’t “unspend” money. Cities can’t print money like FedGov. States can’t print money like FedGov. FedGov is bankrupt, just like Detroit, only much, much, much worse. It is a house of cards. Using printed money to buy your own debt is like looking for a gas leak with a match. It never has a good ending.


74 posted on 07/18/2013 2:50:43 PM PDT by Gabrial (The nightmare will continue as long as the nightmare is in the Whitehouse.)
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To: Gabrial

wow, talk about someone screwing the city out of money....wonder who gets that money.....

It costs Detroit $62 in admin costs for every paycheck if cuts. That’s 3.5x the average for govt, 4x the avg employer.


75 posted on 07/18/2013 2:55:19 PM PDT by sunmars
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To: Gabrial
Didn't know that. More interesting is that they did all they could to schuffle Kawame off the stage in Sept of 08' not to juxapose Obama to him and claim he would turn America into Detroit.

How many years do we have before Obama's damage turns us into Detroit....

Conyer's, Stabenow, Levin, and Kawame's Mommy ( even though she is retired ) are quiet for now, what did they get to shut them up, what taste of the uptake from this do they get. Yes I am that cynical....

76 posted on 07/18/2013 2:56:24 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks.....)
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To: tcrlaf
Detroit in RUINS! (Crowder goes Ghetto)
77 posted on 07/18/2013 2:59:21 PM PDT by Lucky9teen (Peace is that brief glorious moment in history when everybody stands around reloading.~Thomas Jeffer)
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To: tcrlaf

Burn if to the ground.

Whatever dems touch turn to sh%€


78 posted on 07/18/2013 3:04:25 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: tcrlaf

Unions,corruption,and Rats bankrupting cities. This gravy train ran out of track long ago.


79 posted on 07/18/2013 3:07:10 PM PDT by 4yearlurker (Hurry Jesus!!!!!)
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To: Gabrial
It says Kevyn Orr, the Detroit emergency manager, went to VALERIE JARRETT to ask for a government bailout, and was told no by Jarrett.

Well...our POTUS Jarrett isn't a dummy...considering Detroit is probably the first of a long list of cities going belly up...

Every democrat city would have their hand out...

Can't have cities rioting because our first white / African president can't blame Bush for not bailing them out..

80 posted on 07/18/2013 3:07:15 PM PDT by Popman
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