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Originally posted by article
On Thursday, the city of Detroit filed for chapter 9 municipal bankruptcy. The city's municipal emergency manger's filing represents the largest bankruptcy in American history.

"The filing would begin a 30- to 90-day period that will determine whether the city is eligible for Chapter 9 protection and define how many claimants might compete for the limited settlement resources that Detroit has to offer," the Detroit Free Press reports. "The bankruptcy petition would seek protection from creditors and unions who are renegotiating $18.5 billion in debt and other liabilities."

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Originally posted by article
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 city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.

Detroit's would be by far the largest municipal bankruptcy in U.S. history, in terms of the city's population of about 700,000 and the amount of its debts and liabilities, which Orr has said could be as high as $20 billion. Because of the stakes involved, and the impact on residents statewide, as well as 30,000 current and retired city workers and Detroit's ability to stay in business, the case could be precedent setting in the federal judiciary. It could also set an important trajectory for the way troubled cities nationwide settle their financial difficulties.

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that sucjsk lol
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i zero bagged your mother

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Originally posted by Fast Luck
hassan-i-asher: majorin in takin pictures
dreamin bout wayne from catalina wine mixers
listen little friend stay outta the deep end
cuz you're less street than vampire weekend

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"The bankruptcy petition would seek protection from creditors and unions who are renegotiating $18.5 billion in debt and other liabilities."

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Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

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Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

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you poor?

get a job, pal
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"...667 seems to be bereft of anything but silly personal attacks and a general vomitory of retardation"

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Originally posted by article
Oct 25 (Reuters) - Cuts to Detroit's public pensions and retiree healthcare were inevitable given the city's sagging finances, a top consultant for the city testified on Friday during the third day of a trial to determine whether the city is eligible for bankruptcy.

Buckfire, a Detroit native and investment banker with restructuring experience, later told the court the city plans to pay unsecured creditors, including the city's pensioners, 16 cents on the dollar. There are about 23,500 city retirees. Buckfire said the city did not consider the state constitution's protection of pensions in creating its restructuring proposal presentation to creditors on June 14. "We did give it some weight, but did not deem it relevant," Buckfire said.

The city has said about half of its liabilities stem from retirement benefits, including $5.7 billion for healthcare and other obligations, and $3.5 billion involving pensions.

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Originally posted by kublikhan
Buckfire said the city did not consider the state constitution's protection of pensions in creating its restructuring proposal presentation to creditors on June 14. "We did give it some weight, but did not deem it relevant," Buckfire said.

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Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

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so they gonna get sued?
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i zero bagged your mother

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Originally posted by Fast Luck
hassan-i-asher: majorin in takin pictures
dreamin bout wayne from catalina wine mixers
listen little friend stay outta the deep end
cuz you're less street than vampire weekend

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drown you stupid ass town
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Originally posted by KingHillBilly
I respect players like Chayliss

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Originally posted by Fast Luck
Top quality trolling Chayliss. Hat tip to you

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Originally posted by Sparkz102
also in this post - special shout out to my boy chay

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you first retard
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Originally posted by turtleman
A normal person wouldn't say that in real life because it's ridiculous and insulting. Yet here you are spouting the most hateful garbage that your demons can muster out of your darkened soul. All because of the internet.

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