Posted on 07/20/2013 9:04:09 AM PDT by whitedog57
Ingham County Circuit Court Judge Rosemarie Aquilina ordered on Friday that Detroit’s bankruptcy be withdrawn. Aquilina said the 2012 Michigan law that allowed Gov. Rick Snyder to approve the city’s bankruptcy filing, the largest municipal bankruptcy filing ever in the United States, violates the Michigan Constitution. Specifically, Article IX Section 24, which holds that pension plans and retirement systems “shall not be diminished or impaired.”
Aquilina said that she will ensure that President Barack Obama gets a copy of her order. “It’s also not honoring the president, who took [Detroit’s auto companies] out of bankruptcy.”
[This seems like someone saying "I'm going to tell my daddy on you!"]
daddy
“I know he’s watching this,” the Detroit News quotes Aquilina saying, noting that she predicted that Obama would eventually step in and take action.
Michigan Attorney General Bill Schuette on Friday appealed a state judge’s declaratory judgment that the bankruptcy petition Detroit’s emergency manager filed in federal court Thursday should be withdrawn. The appeal of ‘s Friday order was made in the Michigan Court of Appeals on behalf of Governor Rick Snyder, according to a statement from Schuette’s office. Additional motions seeking emergency consideration were expected to be filed later on Friday, the statement added.
Detroit is near the statutory limits of its ability to tax. That power has been dragged down by a drop in the city’s population, down 60 per cent from almost 2 million at the peak in the 1950s to just under 700,000. The led to a 40 per cent drop in tax revenues since 2000. The city has had to borrow money to meet its operating budget which has been slashed. With the City retiree pool currently outnumbering active employees by an over-2 to 1 margin and growing, the City must address pension and retiree!healthcare liabilities as part of any comprehensive restructuring.
Translation: protect the pensions and municipal workers at all cost and screw the bondholders. Just like the GM bailout. GM stockholders and bondholders were destroyed, but GM and its workforce survived.
Given the political contributions from related groups (like the American Federation of State, County and Municipal Employees), I am not surprised that Judge Rosemarie is waving a warning flag to President Obama. And ActBlue is no slouch on Democrat fundraising either.
unioncontrib
We shall see if the courts allow Governor Snyder and Kevyn Orr to succeed in placing Detroit in bankruptcy. Or if President Obama enters the fracas to protect municipal employee retirees. Or Detroit as a whole.
75years
Apparently, Judge Rosemary didn’t buy Kevyn Orr’s opening salvo in the bankruptcy appeal: 154747367-Detroit-Creditor-Proposal
“After decades of fiscal mismanagement, plummeting population, employment and revenues, decaying City infrastructure, deteriorating City services and excessive borrowing that provided short term band-aids at the cost of deepening insolvency, the City of Detroit today is a shadow of the thriving metropolis that it once was. The City does not provide basic and essential services to the residents who remain in the City. Crime is endemic. The City is infested with urban blight, which: (a) depresses property values; (b) provides a fertile breeding ground for crime and tinder for fires (with the attendant disproportionate devotion of police and firefighting resources to abandoned lots); and (c) compels the City to devote precious resources to demolition.”
3085_1packard_4__detroit_2012_6134255
Stay tuned!
why didn’t the gummit intervene to protect my husbands company when they went bankrupt?....the Pensions Guarantee board is a joke..
So ask for volunteer demo workers....something for the gang bangers to do...(since the population has declined and thus less opportunities for gang banging)
I think she is being ignored——http://www.zerohedge.com/news/2013-07-20/ponzi-scheme-expert-oversee-detroit-bankruptcy
If the State of MIchigan is required to honor the pensions..this will add billions to state obligations..at the same time that muni bonds become harder to float because of new precedent. If the bond holders are screwed and the tax payers are screwed..the result will be that the states with big debts will be avoided by investors and taxpayers.
To paraphrase Star Trek’s Dr. McCoy...”Detroit...it’s dead Jim.”
I am actually looking forward to the day when all those government workers who think they have big fat pensions coming finally figure out that government is a pathological liar.
OK pass a law and make the court pay it.
* She doesn't have standing, it is a federal matter.
* Other comments were both she and the attorneys could be in deep doo-doo for going this route.
* The Federal Bankruptcy Judge was noted on local SE Michigan TV today and is highly regarded.
* This case hits gets before him Monday or Tuesday.
A judge with no standing to do so.
This judge is gonna get judicially slapped aside.
They could ask arsonist volunteers to simply burn down the abandoned buildings.
What if they just ignore her? These activist judges....
Because that's why we have judges...to make sure elected officials are never criticized by their employers. [facepalm]
But bankruptcy is governed by state laws and therefore none of his business.
The next step will be for the judge to rule the statutory tax limits unconstitutional, since the pensions are a “constitutional right”.
Then since it is a state constitution, she will rule that the entire state has responsibility to fulfil. And she will raise taxes by judicial decree, to pay the pensions.
Because some judges think a constitution is a suicide pact.
Nice. They honored their promise to work 30 years or how ever long they needed to and receive a pension and now clowns like yourself are hoping they lose it. I say if you want to criticize the city of Detroit, how about the free loaders who took from the government for life and generation after generation. Of course you hope they will continue to get the freebies I would imagine. Typical liberal.
The unions won’t stand for volunteers because that’s taking work away from their members.
gotta think real hard on this one..
bankrupcy filed in FEDERAL court..
ruling by STATE court..
last time i checked that pesky old constitution thingie, the states do not have standing over the feds, unless it is a tenth amendment issue...
the ingham county bought and paid for by the unions judge can order the sky to turn red and green..
she does not have jurisdication..
this is a show for the unions that bought and paid for her..
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