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I have looked at the Detroit CAFRs. So I have seen the financials. They do indeed show that they have the means to pay if one looks at the accounting. Their CAFRs are not so different from many other Municipal CAFRs, however. I have mentioned this in threads about Detroit that people should look at how the funds are being managed.
However, this is an interesting situation. This is an article discussing an Objector who is stated to be the Chair of St. Peter. I have not confirmed the court information. Listened to a recording of what appears to be this Objector and a judge. The recording states their was a request for intervention. Will look for this.
Seems unusual regardless. Certainly been some unusual events going on all over, including at the Vatican.
quote: In the most unusual argument presented during the U.S. Bankruptcy Court hearing, Marques testified that he was there as a representative of “the Chair of St. Peter” — as in the Vatican. Marques of Ohio said all of Detroit’s debts were wiped out on June 30 as part of “global debt forgiveness.” He acknowledged that his legal arguments are unique, but insisted that they are based in fact. He also warned that anyone who doesn’t follow the orders from the Chair of St. Peter could be held accountable for war crimes.
Anybody else hear about this? Anybody checked into it? Have seen many discussions on here about Detroit. Didn't see this mentioned though. This is from the 19th of Sept and had not seen it til a bit after that.
But I agree, we can wave our magic wand and splash some pixie dust around to declare that Detroit in fact has a huge surplus!!! More illegal extra pension payments to buy votes - we can afford it, YES WE CAN!!!
Last edited by michiganmoon; 09-27-2013 at 04:38 AM..
But I agree, we can wave our magic wand and splash some pixie dust around to declare that Detroit in fact has a huge surplus!!! More illegal extra pension payments to buy votes - we can afford it, YES WE CAN!!!
MM did you go look at the CAFRs? I did. They are not broke. Why would you not go look at the books yourself and see how their accounting works?
Magic has nothing to do with it. How in the world do people take someone else's word for something they can go look at with their own eyes?
There are links and explanations here on those CAFRs. The pensions are being pilfered. That is what all these BKs are about. This happened in the publicly traded corps in the 80's and 90's. They are some of the largest investment funds on earth.
Do you get to claim payments scheduled for 10 years down the road against your current liabilities?
Detroit has extra assets because most cities don't own their own art museum with 2 Billion dollars worth of art. That art needs to be there to help the city when all the smoke clears. It shouldn't be sold to pay for corruption.
How often have you been to Detroit? Most city lights can not afford to be repaired and are out encouraging more crime. Half the street lights can not afford to be repaired and makes driving annoying off of the main drags, except half the town is dead.
Detroit has extra assets because most cities don't own their own art museum with 2 Billion dollars worth of art. That art needs to be there to help the city when all the smoke clears. It shouldn't be sold to pay for corruption.
How often have you been to Detroit? Most city lights can not afford to be repaired and are out encouraging more crime. Half the street lights can not afford to be repaired and makes driving annoying off of the main drags, except half the town is dead.
That has nothing to do with it. Like I said you want to talk about finances you should look at the books. Not some third party headline. That is why they have been getting away with it.
You yourself were talking about the corruption. Gee wonder how it happened? So you talk about the corruption, but you just don't bother to follow up. You just trust them? Sorry that makes no sense to me.
Well Obama just announced $320 million in grants..aka "free money" to Detroit.
Fed bailout alright. And watch for more "grants" coming their way in the future.
Tell me this won't open the spigot for other cities.....
Well Obama just announced $320 million in grants..aka "free money" to Detroit.
Fed bailout alright. And watch for more "grants" coming their way in the future.
Tell me this won't open the spigot for other cities.....
Unfortunately, those FED grants usually end up shaping direction they want.That's how we got HAVA. Also just more to line the pockets. Though they have way more than that in the funds. 320mill is small.
This article like so many others really says nothing. There is no real detail. Amazing given the amount of funds we are discussing.
The Detroit site dedicated to the BK appears to be missing information. Though the filing was apparently a month earlier, so I may have missed this. I did find dockets for this. However, this appears to be a copy of what was filed. The date is actually shown as 8-19. Need to click on the number 493 for the pdf. Detroit Bankruptcy Docket :: Justia Law
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