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Detroit Bankruptcy


AUcivE09

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If I am not mistaken - wasn't Romney villified for suggesting Detroit needs to go through a managed bankruptcy?

I could not find a thread on this topic and it seems to be pretty significant considering California could be staring at the same fate along with a few other cities. I am interested in learning how this could actually affect Detroit. Is the city simply sold off to the highest bidder? (i.e. Detroit Police Department brought to you by Papa Johns?)

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If I am not mistaken - wasn't Romney villified for suggesting Detroit needs to go through a managed bankruptcy?

I could not find a thread on this topic and it seems to be pretty significant considering California could be staring at the same fate along with a few other cities. I am interested in learning how this could actually affect Detroit. Is the city simply sold off to the highest bidder? (i.e. Detroit Police Department brought to you by Papa Johns?)

I thought Romney was inferring that we let the auto industry go bankrupt, not the actual city itself in his famous "let Detroit Go Bankrupt". As far as a detroit bankruptcy bailout by the Federal government, it seems unlikely to me.Carney has already said there were no plans for federal intervention. I Don't think its a precedent we should set either.

as far as California going bankrupt, you're off base. They actually utilized a surplus to create a reserve.

http://www.mercuryne...urplus-approved

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If I am not mistaken - wasn't Romney villified for suggesting Detroit needs to go through a managed bankruptcy?

I could not find a thread on this topic and it seems to be pretty significant considering California could be staring at the same fate along with a few other cities. I am interested in learning how this could actually affect Detroit. Is the city simply sold off to the highest bidder? (i.e. Detroit Police Department brought to you by Papa Johns?)

I thought Romney was inferring that we let the auto industry go bankrupt, not the actual city itself in his famous "let Detroit Go Bankrupt". As far as a detroit bankruptcy bailout by the Federal government, it seems unlikely to me.Carney has already said there were no plans for federal intervention. I Don't think its a precedent we should set either.

as far as California going bankrupt, you're off base. They actually utilized a surplus to create a reserve.

http://www.mercuryne...urplus-approved

I've seen your argument for California, but I agree with your detractors in that view. That "surplus" is a lot of fluffed up talk until they can prove it will happen. History is not currently on their side when it comes to balancing a budget, much less climb out of debt. But I would like to stick more towards Detroit and what they are looking at in this thread. Ill say California arguably could be looking at a similar situation as Detroit depending on if this news turns out to be the one that works. This is by far, the largest bankruptcy and will have an impact on what another large place (i.e. California) will have to follow. FWIW America does not need this to happen no matter what side you are on. It really is a "good for one is good for all" type deal.

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Yep, but I'm sure this is a positive result of the Obama economic juggernaut...glad I live in TX.

Yeah, Romney's proposal to let GM and Chrysler go under would have been so much better. :-\

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" If I had a city, it'd look like Detroit " - Barack Obama

Just to be clear, was that meant as a racist joke?

Only in your mind, old dude. And that's far from the apology you owe me.

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" If I had a city, it'd look like Detroit " - Barack Obama

Just to be clear, was that meant as a racist joke?

Only in your mind, old dude. And that's far from the apology you owe me.

Well then please explain it. I don't get it.

"If I had a city" ???

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I guess Detroit believed Obama when he said he would never let them go bankrupt. Of course he still may keep that promise.........with our money.

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" If I had a city, it'd look like Detroit " - Barack Obama

Just to be clear, was that meant as a racist joke?

Only in your mind, old dude. And that's far from the apology you owe me.

Well then please explain it. I don't get it.

Figures.

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" If I had a city, it'd look like Detroit " - Barack Obama

If he had a city I guess it would be called Obammerville.
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