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Old 07-18-2013, 05:27 PM   #1
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Default Detroit files for bankruptcy

http://www.freep.com/article/2013071...cy-soon-Friday

$18.5 billion in debt
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Old 07-18-2013, 05:31 PM   #2
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Default Re: Detroit files for bankruptcy

The power of unions
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Old 07-18-2013, 06:30 PM   #3
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Default Re: Detroit files for bankruptcy

What happens when a city files for bankruptcy?
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Old 07-18-2013, 06:32 PM   #4
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by OldSkoolball#52
The power of unions

Don't worry Detroit. We spent trillions of dollars protecting you from some phantom group called Al Quada thousands of miles away, so you can live in your cardboard box home safely. Feel better? You should. god bless america.
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Old 07-18-2013, 06:32 PM   #5
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by QuebecBaller
What happens when a city files for bankruptcy?

I didn't know a city could do that.

Would they get their stuff taken away or sold at an auction?
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Old 07-18-2013, 06:33 PM   #6
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Default Re: Detroit files for bankruptcy

lmao but sad too
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Old 07-18-2013, 08:07 PM   #7
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by bagelred
Don't worry Detroit. We spent trillions of dollars protecting you from some phantom group called Al Quada thousands of miles away, so you can live in your cardboard box home safely. Feel better? You should. god bless america.


Yeah I guess it woulda been better to leave control of some of earths most valuable resources in the hands of the fastest growing population on the planet which happens to harbor tons of radical anti-american sentiment and extremism.

The US is a country that, compared to places run by the TALIBAN, is civil, intelligent, democratic, progressive, and prosperous. The middle east is better off with US ifluence than to be simply left uninterrupted to the exploding population of muslims. Thats the plain truth and maybe youre one of the puss-ees who cant handle it. Thats ok. Just keep drinkin water so all that crying doesnt dehydrate you.


If you are one of those walking vaginers that pouts and sulks because you think protecting yourself is stupid, and we all need to just smoke weed and play guitar and that will keep the world safe and stable because nobody would ever take advantage of us if we just ask them nicely not to, what can I tell you. Youre just a f@ggot.

Last edited by OldSkoolball#52 : 07-18-2013 at 08:11 PM.
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Old 07-18-2013, 09:01 PM   #8
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Default Re: Detroit files for bankruptcy

Man, Detroit seems like such a depressing place..
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Old 07-18-2013, 09:22 PM   #9
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by QuebecBaller
What happens when a city files for bankruptcy?
It's confusing at first, but when you think about it, cities are just large companies with many sub-sectors.
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Old 07-18-2013, 09:34 PM   #10
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by bagelred
Don't worry Detroit. We spent trillions of dollars protecting you from some phantom group called Al Quada thousands of miles away, so you can live in your cardboard box home safely. Feel better? You should. god bless america.

They could spend a trillion like they did for tarp and improve nothing. These two aren't a consequence of each other but instead they are both products of a core failure.
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Old 07-18-2013, 09:45 PM   #11
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by OldSkoolball#52
The power of unions

Lol, the power of white flight you jack-ass.
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Old 07-18-2013, 09:47 PM   #12
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Default Re: Detroit files for bankruptcy

https://twitter.com/KDCs_Number1Fan/...90598713675776
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Old 07-18-2013, 11:38 PM   #13
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Default Re: Detroit files for bankruptcy

These guys will save the day



and fill the city with these

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Old 07-19-2013, 12:28 AM   #14
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Default Re: Detroit files for bankruptcy

Quote:
Originally Posted by TheReal Kendall
I didn't know a city could do that.

Would they get their stuff taken away or sold at an auction?
It happened in New York, or it was about to happen before the President (or the Governor) made a group to pretty much make the deficit go poof. THey were trying to do something similar in PR but hopefully we figure it out. But then again we are a territory so nobody cares
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Old 07-19-2013, 02:46 AM   #15
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Default Re: Detroit files for bankruptcy

I hope some of you understand what filing for bankruptcy means(even as a city). It's not exactly admitting that you're bankrupt, it's legally seeking certain protection from bankruptcy.

Bankrupt is when the total debt surpasses the equity that can liquidate to repay the debts. Bankruptcy protection (anytime an institution or person files "for" bankruptcy), does not equal bankrupt. Although, to be fair... we're talking about Detroit here, which may be all of the above.
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