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Pre-Election Quote

Mike

Well-known member
On October 13, 2012, President Obama boasted to Americans in his weekly address that he refused to “let Detroit go bankrupt.”

“[W]e refused to throw in the towel and do nothing,” Obama said. “We refused to let Detroit go bankrupt, I bet on American workers, and American ingenuity and three years later that bet is paying off in a big way.”

Today:
The City of Detroit filed this afternoon for Chapter 9 bankruptcy protection in federal court, laying the groundwork for a historic effort to bail out a major U.S. city that is sinking under 20+ billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.
:lol: :lol: :lol: :lol: :lol: :lol:
 

Steve

Well-known member
Whitewing said:
If only donks had had control of that city for the last few decades. :roll:

this is not the current Detroit administration's problem,.. they were left a mess by Louis Miriani in 62...

sure things were rosy back then.. but the current problems are due to him nor foreseeing how inept later administrations would be...
 

iwannabeacowboy

Well-known member
Come on guys, I heard today that it is due to people that left years ago. They were in trouble when 200,000 people left a couple decades ago and they just finally couldn't outrun it anymore.

Seriously, how are you going to fund everything when people keep leaving for places with less taxes and jobs. It isn't fair and something should be done by the federal government to stop this. We need to bail them out. If we don't bail them out now, it is only going to be more expensive in the future.

If the stimulus didn't teach us something, what will? These people can have middle class incomes for ~ 1.4 million dollars a year each. For the cost of decent NFL player, or a B movie actor's house, we can get these people into something that has heat and air conditioning along with a moderately low mile used Hyundai. Don't we owe that to them. What are the rich of these other states going to spend it on? 10-20 employees of the evil fossil fuel industry? What an environmental tragedy! For the cost of a prime steak, you can buy a poor soul a cup of coffee. Don't they deserve a cup of coffee, if your eating prime steak?
 

Steve

Well-known member
well,.. for starters "I wannabea Cowboy" you forgot the sarcasm warning.. :lol:


Seriously, how are you going to fund everything when people keep leaving for places with less taxes and jobs. It isn't fair and something should be done by the federal government to stop this.

the answer for a liberal is simple.. just raise the taxes on the places with less taxes.. and bail out Detroit and all the other mismanaged cities...
and then people will only decide to leave because the crime is so bad.. (and they are racists)

warning sarcastic humor alert:

but don't worry Detroit already has a new ad campaign to get fok coming back.. as tourists at first,.. but once they get there they can steal their tires and make them stay... uh oh ,.. oops.. I mean they will like it so much they will want to stay...

this one is subtle..
http://www.notsopuremichigan.com/?p=317

this one is a bit more edgy.. aimed more at the adventurists
http://www.youtube.com/watch?v=l4ZQooPHHAA


enjoy and let me know how the vacation is..
 

hypocritexposer

Well-known member
Michigan Judge Rules Detroit’s Bankruptcy Is Unconstitutional – It “Dishonors” Obama

“It’s cheating, sir, and it’s cheating good people who work,” the judge told assistant Attorney General Brian Devlin. “It’s also not honoring the (United States) president, who took (Detroit’s auto companies) out of bankruptcy.”

Aquilina said she would make sure President Obama got a copy of her order.

“I know he’s watching this,” she said, predicting the president ultimately will have to take action to make sure existing pension commitments are honored.

http://www.detroitnews.com/article/20130719/METRO01/307190099/Ingham-County-judge-rules-Detroit-bankruptcy-withdrawn-Schuette-appeals
 

Steve

Well-known member
Note to liberal judge... please try to get you facts straight before you sound really stupid..

in December 2008 the Bush administration provided a "bridge loan" to General Motors with the requirement of a revised business plan.

On the March 30, 2009 deadline President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to compel bondholders and trade unions into settlements.

On 31 May 2009 news broke that the U.S. would initially likely become the largest shareholder of the reorganized GM. The U.S. government would invest up to $50 billion and own 60% of the new GM and the Canadian government would own 12.5%.

On 30 May 2009, it was announced that a deal had been reached to transfer New Opel (Opel plus Vauxhall, minus Saab) assets to a separate company majority-owned by a consortium led by Sberbank of Russia (35%), Magna International of Canada (20%), and Opel employees and car dealers (10%). GM was expected to keep a 35% minority stake in the new company.

On the morning of 1 June 2009, Chevrolet-Saturn of Harlem, a dealership in Manhattan that is owned by GM itself, filed for bankruptcy protection there, followed in the same court by General Motors Corporation (the main GM in Detroit), GM's subsidiary Saturn LLC, and Saturn LLC's subsidiary Saturn Distribution Corporation.[39] All cases were assigned to Judge Robert Gerber.

While it is a chicken egg argument.. Obama agreed to bail out GM only if it filed for bankruptcy... and did so a full day BEFORE they filed..

so he didn't pull them out of,.. instead he threw them "into bankruptcy" ...
 

Tam

Well-known member
Steve said:
Note to liberal judge... please try to get you facts straight before you sound really stupid..

in December 2008 the Bush administration provided a "bridge loan" to General Motors with the requirement of a revised business plan.

On the March 30, 2009 deadline President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to compel bondholders and trade unions into settlements.

On 31 May 2009 news broke that the U.S. would initially likely become the largest shareholder of the reorganized GM. The U.S. government would invest up to $50 billion and own 60% of the new GM and the Canadian government would own 12.5%.

On 30 May 2009, it was announced that a deal had been reached to transfer New Opel (Opel plus Vauxhall, minus Saab) assets to a separate company majority-owned by a consortium led by Sberbank of Russia (35%), Magna International of Canada (20%), and Opel employees and car dealers (10%). GM was expected to keep a 35% minority stake in the new company.

On the morning of 1 June 2009, Chevrolet-Saturn of Harlem, a dealership in Manhattan that is owned by GM itself, filed for bankruptcy protection there, followed in the same court by General Motors Corporation (the main GM in Detroit), GM's subsidiary Saturn LLC, and Saturn LLC's subsidiary Saturn Distribution Corporation.[39] All cases were assigned to Judge Robert Gerber.

While it is a chicken egg argument.. Obama agreed to bail out GM only if it filed for bankruptcy... and did so a full day BEFORE they filed..

so he didn't pull them out of,.. instead he threw them "into bankruptcy" ...

CAN'T BE :? :? Wasn't it Big Bad Business Executive Romney that told GM and Detroit to go Bankrupt, as in go through a controlled Bankruptcy and get their debt under control if they were ever going to survive? AND now you are trying to tell us Community Organizer Obama that has NO BUSINESS experience, that believes you have to spend money to get out of Bankruptcy, is the one telling them to go bankrupt. CAN'T BE. :wink:
 
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