Is It Too Late To Save Detroit---Not If Liberals Democrats Are In Charge (election, jobs)
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If you can't trust government you certainly can't trust businessmen so the only way you can contract is with someone you personally trust? Wow. So no loans, no mortgages, no schools, no building permits, no trials, it is going to be tough out there.
When many of these deals were made, those making the deals knew the money was not there. I would not sign loan papers from a bank with the belief they would not be able to provide the money.
Actually I believe the issue is who ruled first. So there is little question that the "moronic" judge could perfectly well have enjoined the bankruptcy. And it is not clear that she can't now. So we see.
You know I think a Governor trying to beat his own Constitution through a federal court action is pretty moronic.
Prior to Aquilina ruling on Friday, she criticized the Snyder administration and Attorney General’s Office for what she thought was a hasty action to outflank pension board attorneys.
“It’s cheating, sir, and it’s cheating good people who work,” Aquilina sniveled to assistant Attorney General Brian Devlin.
“It’s also not honoring the President, who took [Detroit’s auto companies] out of bankruptcy.”
Then Aquilina said she would ensure President Obama got a copy of her order. (Scarrrrrry!)
“I know he’s watching this!” she stammered and yammered. (Maybe Obama will even autograph it and send it back, lol. )
Aquilina then wondered aloud whether Obama ultimately will have to take action to make sure existing pension commitments are honored. (How he can do that is beyond anyone, since Congress controls purse strings.)
As to the state constitutionality of the action, the U.S. Congress placed such bankruptcy decisions in the hands of the U.S. Bankruptcy Court -- not some flunky Left Wing whacko judge in Michigan. Federal Law prevails.
When many of these deals were made, those making the deals knew the money was not there. I would not sign loan papers from a bank with the belief they would not be able to provide the money.
Actually the Michigan Constitution says the money is there. That is why the Gov is trying for an end around via the federal BK.
And certainly without the BK the money is there...a question of priority. The retirees get paid even if the cops do not. So how would anyone involved have known that the money was not there when it, in fact, was?
She then predicted that Obama ultimately will have to take action to make sure existing pension commitments are honored. (How he can do that is beyond anyone, since Congress controls purse strings.)
You're kidding right? Obama does whatever the hell he wants, like every dictator.
Prior to Aquilina ruling on Friday, she criticized the Snyder administration and Attorney General’s Office for what she thought was a hasty action to outflank pension board attorneys.
“It’s cheating, sir, and it’s cheating good people who work,” Aquilina sniveled to assistant Attorney General Brian Devlin.
“It’s also not honoring the President, who took [Detroit’s auto companies] out of bankruptcy.”
Then Aquilina said she would ensure President Obama got a copy of her order. (Scarrrrrry!)
“I know he’s watching this!” she stammered and yammered. (Maybe Obama will even autograph it and send it back, lol. )
Aquilina then wondered aloud whether Obama ultimately will have to take action to make sure existing pension commitments are honored. (How he can do that is beyond anyone, since Congress controls purse strings.)
As to the state constitutionality of the action, as the U.S. Congress placed that decision in the hands of the U.S. Bankruptcy Court -- not some flunky Left Wing whacko judge in Michigan.
The Judge's invocation of Obama has no weight but still might be a smart thing to do politically.
It may well be that the Federal Bankruptcy Court stays the State Judge's order. That is that.
However this issue is not really clear cut. Can a State court order a State Official to not do something involving a federal court? Well there appears to be agreement that the court did have the power to prevent the filing before it happened. So why not to rescind it after it happens. And I would note the AG in MI is trying to get a higher state court to stay the order...so it would appear this is not a really clear matter.
So I think I will wait a while until the dust settles on this one.
Actually the Michigan Constitution says the money is there. That is why the Gov is trying for an end around via the federal BK.
And certainly without the BK the money is there...a question of priority. The retirees get paid even if the cops do not. So how would anyone involved have known that the money was not there when it, in fact, was?
It's been noted for years and years that Detroit would never be able to meet it's obligations.
It's been noted for years and years that Detroit would never be able to meet it's obligations.
Until very recently Detroit has met its obligations. And if it starts to miss meeting its obligations which do you think is most likely to be missed....one guaranteed in the Constitution or one which is not?
The Governor is clearly trying to get into the Bankruptcy court because he knows otherwise that he will in fact have to pay those retirees. And first. It might well end up that Michigan has to bail out Detroit because it otherwise gets into a situation where it has to pay most of Detroit's obligations to avoid bad fallout to the state and other municipalities. MI has to pay the retirees because of the Constitution, The big lenders because of the security invovled and the damage to credit ratings and police and fire and such to keep Detroit livable for the people who work and and live there. So that is what? 85% of what Detroit owes?
You're kidding right? Obama does whatever the hell he wants, like every dictator.
Exactly. That's why I refer to him as King Obama.
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