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Thread: NINE SOLID REASONS WHY THE DETROIT BANKRUPTCY IS A SCAM

  1. #1
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    NINE SOLID REASONS WHY THE DETROIT BANKRUPTCY IS A SCAM

    I have always been of the mindset that Detroit would be an entrepreneur's Holy Grail and the city managers trail to bankruptcy was a bunch of tommyrot humbuggery.

    http://thebigslice.org/eight-reasons...tcy-is-a-scam/









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    Quote Originally Posted by SamBass View Post
    I have always been of the mindset that Detroit would be an entrepreneur's Holy Grail and the city managers trail to bankruptcy was a bunch of tommyrot humbuggery.

    http://thebigslice.org/eight-reasons...tcy-is-a-scam/
    Now wait just a darn minute here. Where do you get off presenting these facts? It was democratic mismanagement and those debil unions that caused the downfall of Detroit don't you know.
    I cried because I had no shoes until I saw a man that had no feet.

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    pray for me ;)
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    I blame this guy:

    Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us.Bill Watterson, cartoonist, "Calvin and Hobbes"

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    This was particularly interesting:

    2. Detroit’s city manager, Kevyn Orr, is a bankruptcy attorney. The first bill paid during the drawdown to the bankruptcy process was $1.4 million to Orr’s former law firm.
    "The purpose of argument, should not be victory, but progress." proverb

  5. #5
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    NINE SOLID REASONS WHY THE DETROIT BANKRUPTCY IS A SCAM

    Should have just wrote "please ignore the past 60 years of governing decisions by democrats the past month is the reason Detroit is in this position". Oh and #5 I hilarious, yes having the population of your city living in hotels is a sign of a booming economy.

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    Quote Originally Posted by Husker Mort View Post
    This was particularly interesting:

    2. Detroit’s city manager, Kevyn Orr, is a bankruptcy attorney. The first bill paid during the drawdown to the bankruptcy process was $1.4 million to Orr’s former law firm.
    If you had a $1.4 million dollar tab on the table for a customer and they were filing bankruptcy wouldn't you do what you could to get paid? That kind of money can put people out of business in a hurry.

  7. #7
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    Number nine......The Feds could bail out Detroit........
    You never stand so tall as when you kneel to help a child.

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    Yes the fact that the city doesn't have a tax base anymore to support its budget let alone its pension obligation should totally be ignored because that isn't really important fact to consider. No it has to be some big evil Republican conspiracy behind it.
    As government gets bigger people get smaller

  9. #9
    Antediluvian Abrasiveness
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    .....a rising GDP is another indication of better times to come.
    Straight out of the Obama playbook talking points. They've been borrowing a million dollars a year since 2008. They have over $19 billion in obligations they have no chance of meeting. But there are "better times to come." Let's prop them up and continue bleeding cash. Dumb.
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    Quote Originally Posted by Husker Mort View Post
    This was particularly interesting:
    I wasn't really impressed by the other points in the article, but this one has the potential to be a huge conflict of interest. It definitely warrants scrutiny.

  11. #11
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    Quote Originally Posted by Funky View Post
    I wasn't really impressed by the other points in the article, but this one has the potential to be a huge conflict of interest. It definitely warrants scrutiny.
    Now wait just a darn minute here. Where do you get off dismissing the other eight facts?
    http://www.timeanddate.com/countdown...+OUT+OF+OFFICE

    Quote Originally Posted by cactusboy View Post
    So...when in doubt check out Wiki

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    pray for me ;)
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    @
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  13. #13
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    lol.....
    “If ever a time should come, when vain and aspiring men shall possess the highest seats in Government, our country will stand in need of its experienced patriots to prevent its ruin.”
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    where in the article does it mention how Detroit got into its current situation??? Detroit is a democratic failure. One solid fact overlooked by the author.

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    Hmmm..."Detroit’s city manager, Kevyn Orr, is a bankruptcy attorney. The first bill paid during the drawdown to the bankruptcy process was $1.4 million to Orr’s former law firm."

    Wait a minute, isn't that how Detroit got into trouble in the first place? I'm just making an educated guess, but I suspect that Mr. Orr is a Democrat...

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    Quote Originally Posted by AKveteran View Post
    where in the article does it mention how Detroit got into its current situation??? Detroit is a democratic failure. One solid fact overlooked by the author.
    That's old news...what difference does it make now?!?

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    Quote Originally Posted by Yossarian View Post
    Hmmm..."Detroit’s city manager, Kevyn Orr, is a bankruptcy attorney. The first bill paid during the drawdown to the bankruptcy process was $1.4 million to Orr’s former law firm."

    Wait a minute, isn't that how Detroit got into trouble in the first place? I'm just making an educated guess, but I suspect that Mr. Orr is a Democrat...
    Hey was appointed by a Republican governor.

    Anyhow, it's common practice for bankruptcy lawyers to be paid for their services before creditors receive anything. The fact that they received payment is not a conflict of interest in itself. The questions that should be asked are:

    1. Was a bankruptcy lawyer necessary?
    2. Is a $1.4 million fee appropriate for the services already rendered?
    3. What kind of fees will be incurred for future services, and are those appropriate/necessary?

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    Ignoring the last 40+ years of mismanagement and trying to pin Detroit's huge failure on a few decisions made by the Governor in the past few months? Comical!
    For the loser now will be later to win. For the times they are a-changin'.

  19. #19
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    This thread reminds me of the thread where poop is made into steak.
    I used to have superpowers.....but my therapist took them away...

  20. #20
    pray for me ;)
    ColoREDo's Avatar
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    Quote Originally Posted by Ogahusker View Post
    This thread reminds me of the thread where poop is made into steak.
    Sometimes I think the surest sign that intelligent life exists elsewhere in the universe is that none of it has tried to contact us.Bill Watterson, cartoonist, "Calvin and Hobbes"


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