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Detroit Bankrupt

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Postby capricorn » Thu Jul 18, 2013 6:23 pm

Detroit files largest municipal bankruptcy case in U.S. history

From The Detroit News: ... z2ZRyqiJVc

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Postby En-Lugal » Fri Jul 19, 2013 6:30 am

I'm trying not to laugh, but who didn't see this coming? They've been bankrupt for a long time now, and I don't just mean fiscally. :lol: :lol: :lol:
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Postby magonia17 » Fri Jul 19, 2013 2:21 pm

How can Detroit go bankrupt? The Senate issued $80 billion dollars for Afghanistan for national security purposes. Yet it cannot find the money for its own people, its board line madness. :wall:
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Postby Nesaie » Sun Jul 21, 2013 5:42 pm

Cities are basically corporations. Just as a corporation can go bankrupt, so can an "incorporated" area such as a city. Ever heard of an "unincorporated" area of a county? I have. Those are areas in counties which did not create arbitrary land mass definition for arbitrary "cities".

I say, let Detroit go bankrupt. Dissolve the city status, and let the land go back to the county where it aledgedly resides. See how the near neighbors like the city of Dearborn feel about that. :D I'm not sure if they're in the same county though.
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Postby greeney2 » Mon Jul 22, 2013 11:47 am

Pretty much a no brainer Detroit was built on the auto industry, and one example how a town can become totally dependent on a single industry to live or die. One can only imagine if this happened to all our great cities, coast to coast. New Orleans was ruined by one hurricane. Hurricane Sandy wiped out much of the east coast. Doesn't take much to turn what was thriving into a blight that can not be fixed. When one industry thrives, it spurs building until they are overbuilt, and when the industry dies, the city get empty, forclosures, and abandonment is hard to hide. The old west had its share of ghost towns, but we do not have many modern ghost towns, nor places as big as Detroit headed that way. Many move out while they can, while others just get stuck and can not get out. Sad situation to watch.

I'm really hoping that as much as you dislike Boeing, you really know their importance to Seattle, what it would be like if they went totally out.

If we decide to not bail out Detroit, we better be cutting off every dime of foreign aid to everyone first. If we will not bail ourselves out, we have no business doing it for anyone else, in any way, shape, or form, military or humanitarian.
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Postby BloodStone » Tue Jul 23, 2013 5:20 pm

was never any doubt they would collapse.

Detroit has been run by liberals for decades. Look forward to most of California too do the same . Any city that has been liberal that long will eventually go belly up.

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