T Nation

Should Detroit Declare Bankruptcy?

"Throughout the rooms of City Hall these days, crossed fingers and caveats reflect the new reality in every fiscal conversation: Despite negotiations among this cityâ??s elected leaders, the final say on Detroitâ??s financial matters will come from Kevyn Orr, the emergency financial manager who took control of the cityâ??s finances less than a month ago.

â??I would hope between our staff and your honorable body, we can come to conclusions in terms of how we move this budget forward,â?? Mr. Bing said, sitting before the Council. â??If we agree collectively, Iâ??m hopeful that Kevyn Orr will also sign off on it.â??

In fact, the whole country should just agree to pay 50 cents on the dollar for all obligations of any sort (debt, SS, medicare, contracts). Bring in a ironclad balanced budget amendment and that should fix everything.

Trouble is, we need a dictator to do this. Will have to wait until the final collapse.

yes

Bankruptcy of what type? Human, Moral, Financial?

They have plenty of options.

My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.

[quote]Tiribulus wrote:
My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.[/quote]

Everything in the bottom 2/3 of that pic should be bulldozed.

Put up some barbed wire fence and plant an urban farm.

[quote]Headhunter wrote:

[quote]Tiribulus wrote:
My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.[/quote]

Everything in the bottom 2/3 of that pic should be bulldozed.

Put up some barbed wire fence and plant an urban farm.[/quote]

what if you own that bottom 2/3 ? Would that be government over stepping it’s bounds ?

Drop napalm and start over.

[quote]pittbulll wrote:

[quote]Headhunter wrote:

[quote]Tiribulus wrote:
My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.[/quote]

Everything in the bottom 2/3 of that pic should be bulldozed.

Put up some barbed wire fence and plant an urban farm.[/quote]

what if you own that bottom 2/3 ? Would that be government over stepping it’s bounds ?[/quote]

Isn’t most of it abandoned anyway? I know there are enclaves where some people still live but I think most of it has like one old lady living in a house with no neighbors for 3 blocks.

[quote]Tiribulus wrote:
My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.[/quote]

I agree. It is not money, it is a Heart Issue.

[quote]Tiribulus wrote:
My living here does not qualify me to declare what should be dome with this particular issue. My pastor is a trained financial professional with a degree from MSU in accounting and personally knows everybody in city government on a first name basis and HE doesn’t know exactly what they should do either. Money is just a symptom like I’ve been sayin forever around here.[/quote]

You cannot have a system where city workers can funnel Union dues to fund officials who will give them raises and kickbacks.

It is, without question, the fastest and most effective way to bankrupt a city.