Detroit defaults on debt
Officially bankrupt.Malcolm wrote:I'm sure they'll be productive.He said further meetings are planned with the unions representing city employees.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Judge says bankruptcy is illegal to declare. Fucking wow.
They bailed out the incompetent auto industry, why not the incompetent city that's their HQ?The order also includes many hand-written notes through them, including a final note on one order from the judge, which states that the order will “…be transmitted to President Obama.”
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
This guy says Detroit's decline started after the 1967 (black people) riots.
http://www.thefiscaltimes.com/Article....x#page1
Whites started taking their money and leaving.
Edited By GORDON on 1374711512
http://www.thefiscaltimes.com/Article....x#page1
Whites started taking their money and leaving.
Edited By GORDON on 1374711512
"Be bold, and mighty forces will come to your aid."
Obamacare to the rescue?
Wait until California declares bankruptcy and we have to pay for them too.
Wait until California declares bankruptcy and we have to pay for them too.
“Activism is a way for useless people to feel important, even if the consequences of their activism are counterproductive for those they claim to be helping and damaging to the fabric of society as a whole.” - Dr Thomas Sowell
Professor Jost said that even with subsidies, insurance policies bought through an exchange could be more expensive for retirees than public sector health plans. Most exchange customers are expected to choose plans that cover 60 percent to 70 percent of medical costs for the average person, compared with public sector plans that have sometimes covered much more.
“These are people who stayed in the public sector all their lives because the benefits were more generous,” he said.
Some city plans, like those in Detroit, cover 80 percent to 100 percent of costs, officials said.
“The truth is, my health care is very good, with only $20 for prescriptions and $10 co-pays to see a doctor,” said Thomas Berry, 60, a Detroit Police Department retiree. “That was part of the promise that was made, and I don’t want to lose it.”
Goddamn. 80 - 100%? My health plan covers jackshit outside traumatic ER visits and low-cost prescription copays.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
“The truth is, my health care is very good, with only $20 for prescriptions and $10 co-pays to see a doctor,” said Thomas Berry, 60, a Detroit Police Department retiree. “That was part of the promise that was made, and I don’t want to lose it.”
Wow, that's what I had 13 years ago. And I don't see being a retiree at 60 as a probability... So yeah, sympathy low.
It's not me, it's someone else.
One doctor = tens of millions of dollars in scams.
Dayum. But surely someone was there double-checking this all, right?
Nope.
Edited By Malcolm on 1376328452
A Detroit-area doctor has been charged with bilking the government of tens of millions of dollars by deliberately misdiagnosing patients with cancer and illegally billing Medicare for the treatment.
Dayum. But surely someone was there double-checking this all, right?
In one case, according to the site, a patient fell and hit his head at Fata's clinic but was told he needed chemotherapy before he could be taken to a hospital, according to the FBI. The man later died from the head injury. His name was not disclosed.
Nope.
Edited By Malcolm on 1376328452
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
The beat goes on.
But seriously...
Guess they'll just have to go into the emergency money tree farm they keep out back and pay everyone.
Now it seems that all legal challenges to the bankruptcy must flow through the federal bankruptcy judge himself, Steven Rhodes.
But seriously...
The Detroit Police and Fire Retirement System (PFRS) filed one such objection right before the deadline, spokesperson Bruce Babiarz told MSNBC. For this objection, they are using much the same legal reasoning accepted by the Ingham County Court: Because Article 9, Section 24 of the Michigan state constitution calls pension benefits “a contractual obligation … which shall not be diminished or impaired,” PFRS argues any bankruptcy is unconstitutional which does not adequately protected those benefits against cuts.
Guess they'll just have to go into the emergency money tree farm they keep out back and pay everyone.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
They bailed out the incompetent auto industry, why not the incompetent city that's their HQ?
$300M in "stimulus" (totally not a bailout) ...
“It’s not big enough to be called a bailout. What they are trying to do is enable key investments that are needed to help the city once it emerges from all of these immediate [financial] challenges,” he says.
... "he" being, and I shit you not, economics professor Skidmore.
Mark Skidmore, an economist at Michigan State University in East Lansing, Mich.
Diogenes of Sinope: "It is not that I am mad, it is only that my head is different from yours."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."
Arnold Judas Rimmer, BSC, SSC: "Better dead than smeg."