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Fly on the wall Join Date: Feb 2013
Posts: 44
Liked: 10 times | Detroit (US City) Files Biggest BANKRUPTCY In History did NOT see this happening! |
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Yellow Jacket Join Date: Jun 2012
Posts: 1,511
Liked: 671 times |
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Ground Beetle Join Date: Oct 2011 Location: Here, There, and Everywhere
Posts: 633
Liked: 388 times | Anyone that did not see this happening YEARS, DECADES ago, has been sound asleep. With 60,000 abandoned empty buildings in Detroit, and no money to level them, Detroit is and has been a GHOST TOWN for DECADES. Chicago will probably be one of the next ones considering they are destroying their tax base by forcing all of the taxpayers to leave while the bloodsuckers remain behind.
__________________ If you keep doing what you are doing, You will keep getting what you are getting. If you don't like what you are getting, You must change what you are doing. http://mmerlinn.com GOLD is the money of KINGS. SILVER is the money of GENTLEMEN. BARTER is the money of PEASANTS. DEBT is the money of SLAVES. - Norm Franz |
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Yellow Jacket Join Date: Oct 2011
Posts: 2,053
Liked: 925 times | The largest unsecured creditors in municipal bankruptcies are usually the pension funds of public employees. So the bureaucrats are having to pay the bill for the desaster they created in the end, sweet justice. Of course, there are a few public employees like firefighters who don`t deserve to be punished... Quote :
Note that they don`t publish the names of the banks ![]() | |
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Moderator ![]() Join Date: Oct 2011
Posts: 1,059
Liked: 459 times | already hearing calls to "lend Detroit a helping hand". We need someone to oversee the bailout.. Detroika!
__________________ "A little more persistence, a little more effort, and what seemed hopeless failure may turn to glorious success.: - Elbert Hubbard |
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Super Moderator ![]() Join Date: Mar 2012 Location: Migratory
Posts: 1,620
Liked: 685 times | I saw this today on the morning news. The wife turns to me and sarcastically says "But I thought Obama fixed Detroit with the auto bailouts?" ![]() ![]() ![]()
__________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 *** Forum Rules |
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Golden Cockroach Join Date: Oct 2011 Location: In Scrooge McDuck's vault
Posts: 7,101
Liked: 2456 times | Somewhere, I'm guessing Meredith Whitney is shaking her head.
__________________ The journey of a thousand miles begins with a single step. - Lao Tzu Important stuff: PMBug 101 * Forum Guidelines * Support PMBug |
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Super Moderator ![]() Join Date: Mar 2012 Location: Migratory
Posts: 1,620
Liked: 685 times | Do you live in a city worse than Detroit? http://washingtonexaminer.com/exogra...le/2533338#map "Detroit declared bankruptcy due in no small part to $3 billion in unfunded public employee pensions owed a sprawling city workforce that kept growing even as the city’s population shriveled, but a Washington Examiner analysis found that 19 major American cities have even bigger ratios of such workers to residents." Detroit has 1 employee, with an 56k average salary, per 61 residents. Unfortunatly, there are a lot of other cities with worse ratios. The one that really amazes me is Baton Rouge with 1 employee, with a 47k salary, per 30 residents. I used to live near Baton Rogue; it is a really cheap area to live with not a whole lot going on... why do they need so many employees? ![]()
__________________ I drive men mad For love of me, Easily beaten, Never free. PMBug 101 *** Forum Rules |
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