10 votes

USA Today: Mich. judge rules Detroit bankruptcy unconstitutional

State's attorney general disagrees, is appealing. reinventing detroit.

http://www.usatoday.com/story/news/nation/2013/07/19/detroit...

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80K for a Giraffe?

Listed under assets...Detroit has a female Giraffe that could fetch up to 80K on the open market.

I had no idea that these animals were so expensive.

donvino

It just seems they would've sought counseling way before $20B

OUCH!

http://legalinsurrection.com/wp-content/uploads/2013/03/Pig-...

"If you want something you've never had before, you have to do something you've never done before." Debra Medina

This is funny. Watching irresponsible adults trying to get

blood from a turnip. What the hay is this doing in their constitution anyway? Is it constitutional? Seems a little preferencial to me...:

...the Michigan Constitution prohibits actions that will lessen the pension benefits of public employees, including those in the City of Detroit.

But since it is in their constitution, who the heck was running the store all these years...5 yr olds?... when they weren't raiding a real candy store? Totally irresponsible. 20 billion $ in debt!?

From Wiki—
Wife of ethically-impaired U.S. Sen. Conyers, Monica, a former President pro tempore of the Detroit City Council, pleaded guilty to conspiring to commit bribery in June 2009. This is punishable by up to five years in prison; in March 2010 she was sentenced to 37 months imprisonment, followed by two years supervised probation.

"If you want something you've never had before, you have to do something you've never done before." Debra Medina

SteveMT's picture

Detroit must be TBTD (Too Bankrupt To Declare).

$20B may be too much money for Obama to cover in a bailout. Alternatively, what kind of dirt does the NSA and/or the IRS have on this Michigan judge to make her overturn Detroit's bankruptcy filing?

I think it costs...

20 billion for the air conditioning for the troops in Afghanistan and Iraq per year. If those troops can do without A/C for a year than this should just about cover it for Detroit. ;)

I would wager the people in Detroit would go for this imo.

donvino

Breach of Trust?

Perhaps something to look into imo.

Surely the financial statements of Detroit are still available.

What happens when the interest rates rise?

donvino

Too funny ...

it's not unconstitutional for Detroit to file for bankruptcy because bankrupting the public purse ought to be a criminal not civil matter.

it's not unconstitutional for Detroit to file for bankruptcy because the people never delegated any power to mismanage the public purse.

it's not unconstitutional for Detroit to file for bankruptcy because the State of Michigan has an obligation to accept liability for political subdivisions established by it's legislature which precludes bankruptcy.

it is unconstitutional because We promised those public employees a pension and We shall see to it they get it but to hell with any promises made to the people good government will maintain the public purse by not squandering wealth taken from the people.

Yes, this is really about

Yes, this is really about public workers and their pensions. Nothing else.

Run to Daddy...

"She also ordered that a copy of her declaratory judgment be sent to President Barack Obama, saying he "bailed out Detroit" and may want to look into the pension issue."

"When the power of love overcomes the love of power, the world will know Peace." - Jimi Hendrix

"...he bailed out Detroit."

"...he bailed out Detroit." wow. They don't want to say it anymore. The American people are doing the bailouts of everybody against our will. Yeah, put the Detroit pension bill on Americans of other states. I watch my own state's citizens trying to make while having to deal with it's own incompetent "leaders" and now the corrupt in Michigan want everyone else to bail them out too. I suppose we're all bailing out California as well. What's one more state. Heck! What's another country (Europe)? Let's just destroy the whole darn citizenry by forcing them to bail out everybody?