Motor City is bankrupt

[DrHenley]

http://www.chicagotribune.com/news/chi-detroit-bankruptcy-20130718,0,6170774.story

"Detroit simply cannot raise enough revenue to meet its current obligations, and that is a situation that is only projected to get worse absent a bankruptcy filing," wrote Snyder, a Republican, in a letter accompanying the filing.

Detroit's creditors are expected to face huge losses, and the future of retiree pension and health benefits for thousands of city workers hangs in the balance.

Anticipating the filing on Thursday, investors drove prices of Detroit bonds and notes lower, sending their yields to record highs on Thursday.

[Roverron]

Wall it off and leave it. Nature will cure what ails that craphole FSA city!

[Boats]

This is one of the more shameful things I've ever witnessed.

It's not like they didn't know it was coming for the last 30 years. But they kept up their grossly irresponsible behavior.

Same thing happening to the country, I'm afraid.

Tom

[DrHenley]

I refused to let Detroit go bankrupt
- President Barak Obama, 2012


http://www.cbsnews.com/8301-250_162-57531867/obama-i-refused-to-let-detroit-go-bankrupt/

[DrHenley]

http://www.youtube.com/watch?v=V6Su5mjQSaE

[dw1911]

http://www.youtube.com/watch?v=V6Su5mjQSaE

Add that to His Bucket List of lies and deception!!!

[Sheepdog]

Motor City is bankrupt. Remind me why I care.

[douglas_knott]

Detroit baby, 313. Lol

[TLE2]

We should care because I'm afraid Obama will make us pay for it.

Detroit borrowed for years just to running and retiree costs while the population dropped for 2 million to 700k. They've been technically bankrupt for years. Now it's real because lenders have cut them off!

[Xbonz]

http://www.foxnews.com/politics/2013/07/26/plans-for-new-red-wings-arena-in-detroit-spark-criticism/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxnews%2Fpolitics+%28Interna l+-+Politics+-+Text%29&utm_content=My+MSN

The new arena will be funded in part with $284 million in tax dollars.

"You've got this city that can't even afford to keep streetlights on, that's talking about selling off its art museum, and here they're talking about giving anywhere between $150 million and $300 million to the Red Wings for a new arena," said "Field of Schemes" author Neil DeMause.

Dem's/Rep's...they're all friggin' I D 10 T S

[markbob45]

He may not call it a bailout but I'll bet Obuma tries to do something to save the gov. worker pensions that are drowning the city. He owes them. They are his peeps.
But you can count on any venders or investers Detroit owes getting screwed.

The rest of us or going to get soaked somehow.