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Detroit eligible for historic Chapter 9 bankruptcy
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SuperFlyBCat Offline
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Post: #1
Detroit eligible for historic Chapter 9 bankruptcy
The city of Detroit today officially became the largest municipality in U.S. history to enter Chapter 9 bankruptcy after U.S. Bankruptcy Judge Steven Rhodes declared it met the specific legal criteria required to receive protection from its creditors.

The landmark ruling ends more than four months of uncertainty over the fate of the case and sets the stage for a fierce clash over how to slash an estimated $18 billion in debt and long-term liabilities that have hampered Detroit from attacking pervasive blight and violent crime.

http://www.freep.com/article/20131203/NEWS01/312030084/
12-03-2013 03:40 PM
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JMUDunk Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
Probably the only way to go. Governmental graft, corruption and incompetence has doomed what was once America's richest city, and it only took a couple generations.

It's exhibit A as to why leftism is a parasite that wrecks it's host.
12-03-2013 03:46 PM
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UConn-SMU Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
Detroit is what happens when liberal Dems are allowed to do whatever they want with no adult supervision.
12-03-2013 03:52 PM
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MileHighBronco Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
In relation to this, check out this which happened shortly after the judge's decision was announced. Predictable. Epic backpedal, too.

http://twitchy.com/2013/12/03/expect-to-...-decision/
12-03-2013 04:42 PM
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DaSaintFan Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
As some of us cant' read twitchy, MHB (blocked at work).. how about a heads up on what it says?
12-03-2013 04:48 PM
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SuperFlyBCat Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
(12-03-2013 04:48 PM)DaSaintFan Wrote:  As some of us cant' read twitchy, MHB (blocked at work).. how about a heads up on what it says?

Leftist progs making threats against the Judge.
12-03-2013 05:10 PM
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MileHighBronco Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
The first sentence was the Twitchy site team's comment.

Quote:One prog thug on the #UniteBlue hashtag kicked off the civility parade with something that looked an awful lot like a death threat.

Judge Rhodes, if you ever show your face in #Detroit, please expect to either be beaten or run over. You have betrayed this city. #uniteblue—
Dominic Nanni (dpn) (@dominicnanni) December 03, 2013

The threat was deleted, but as always, Twitchy is forever.

Then, he played the usual leftist defense gambit - 'so sorry you all misunderstood what I meant.' Ah, yes. The "he misspoke" defense.

After twitter users called him out on what they see as a clear threat on a judge and reported it to the FBI, he doubled down on his "mistake."

Quote:Dominic Nanni (dpn) @dominicnanni
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@Cameron_Gray @safety @RBPundit @FBIDetroit It wasn't a threat from me. It was an assumption that people in Detroit are probably very angry.
9:50 AM - 3 Dec 2013

Quote:Dominic Nanni (dpn) @dominicnanni
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Clearly my previous tweet was taken out of context. cc: @FBIDEtroit, @FBIPressOffice, @detroitpolice, @MichStatePolice.
10:02 AM - 3 Dec 2013

Dominic Nanni (dpn) @dominicnanni
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What my previous tweet should have said: if Judge Rhodes did ever come to #Detroit, there would be many angry citizens here. End of story.
10:03 AM - 3 Dec 2013

Dominic Nanni (dpn) @dominicnanni
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My apologies if a previous tweet was taken out of context by many people.
10:04 AM - 3 Dec 2013

Here is what the doofus posted on his facebook page:

Quote:Just now, a judge ruled that as part of bankruptcy protection, #Detroit CAN seize public employee pensions to help pay off the $18 billion debt. This is a disgrace. A complete and total disgrace to the MILLIONS of public employees who have served the city faithfully and without question. Judge Rhosed, if you ever show your face in Detroit ever, expect to be either beaten up or run over by one of the many cars we make. You have stabbed this city and public workers in the back. **** you.

Gee, the extra context really changes things, huh?

The dude is now running scared and has deleted his twitter account.

Wonder if this dude is a union member, cause this sounds familiar. I've seen this kind of **** up close and personal from these prog troglodytes. But this ***** was hiding behind his keyboard. Wonder if the Feds will buy that context excuse. What's next? Seeking treatment for his anger issues?
12-03-2013 05:15 PM
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Hambone10 Offline
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Post: #8
RE: Detroit eligible for historic Chapter 9 bankruptcy
I hope people who want to leave Detroit now can

I also hope that Detroit can now "condense" some of their neighborhoods through eminent domain.

As I understand it (not saying it is fact) there are large swaths of the city where very few people live, but lots of buildings and streets to provide services to... police, fire, electricity.

The way it is described, they should be able to offer people "better" houses in "better" neighborhoods and still come out ahead by consolidating services and getting rid of some blight until and unless the city "grows" back.
12-03-2013 05:25 PM
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Bull_In_Exile Offline
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Post: #9
RE: Detroit eligible for historic Chapter 9 bankruptcy
(12-03-2013 04:42 PM)MileHighBronco Wrote:  In relation to this, check out this which happened shortly after the judge's decision was announced. Predictable. Epic backpedal, too.

http://twitchy.com/2013/12/03/expect-to-...-decision/

And he is a Political Communications Major at Wayne State....
12-03-2013 05:30 PM
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Bull_In_Exile Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
(12-03-2013 05:25 PM)Hambone10 Wrote:  I hope people who want to leave Detroit now can

I also hope that Detroit can now "condense" some of their neighborhoods through eminent domain.

As I understand it (not saying it is fact) there are large swaths of the city where very few people live, but lots of buildings and streets to provide services to... police, fire, electricity.

The way it is described, they should be able to offer people "better" houses in "better" neighborhoods and still come out ahead by consolidating services and getting rid of some blight until and unless the city "grows" back.

Yea give a civil engineer a map of population density, roads, and the power/sewer systems and start to make Detroit a city of very large parks and islands of communities.
12-03-2013 05:31 PM
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AngryAphid Offline
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Post: #11
RE: Detroit eligible for historic Chapter 9 bankruptcy
RoboCop… prophetic indeed.
12-03-2013 05:47 PM
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DaSaintFan Offline
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RE: Detroit eligible for historic Chapter 9 bankruptcy
(12-03-2013 05:47 PM)AngryAphid Wrote:  RoboCop… prophetic indeed.

That's the first thing that came to mind.... Where's OCP?

Apparently the city is obviously going to appeal, and REPORTEDLY the courts will approve the appeal process, but the courts are going to make sure they drag the case out for so long to allow the city to either go under before it gets to the courts, or until they find a solution that will "allow" the city to get it fixed.
12-03-2013 08:12 PM
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Fo Shizzle Offline
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Post: #13
RE: Detroit eligible for historic Chapter 9 bankruptcy
This what happens when you combine Union coercion, Liberal politics and a declining manufacturing base. The perfect schit storm of fail.
12-03-2013 08:52 PM
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vandiver49 Offline
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Post: #14
RE: Detroit eligible for historic Chapter 9 bankruptcy
(12-03-2013 03:40 PM)SuperFlyBCat Wrote:  The city of Detroit today officially became the largest municipality in U.S. history to enter Chapter 9 bankruptcy after U.S. Bankruptcy Judge Steven Rhodes declared it met the specific legal criteria required to receive protection from its creditors.

The landmark ruling ends more than four months of uncertainty over the fate of the case and sets the stage for a fierce clash over how to slash an estimated $18 billion in debt and long-term liabilities that have hampered Detroit from attacking pervasive blight and violent crime.

http://www.freep.com/article/20131203/NEWS01/312030084/

Detroit is just simply the first city to go under. Multiple cities will be facing major financial crisis due to underfunded pensions which either force cities to slash these benefits or the cities will also follow Motown into bankruptcy.
(This post was last modified: 12-03-2013 09:23 PM by vandiver49.)
12-03-2013 09:06 PM
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boss man Offline
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Post: #15
RE: Detroit eligible for historic Chapter 9 bankruptcy
Reap what you sow, Detroit. It is the first victim of the financial KNOCK OUT game.

More cities are on alert, as vandiver49 noted. Things are about to get real serious real quick. But, hey, at least health care will be free!!
12-03-2013 10:03 PM
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