Originally posted by devilock76
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He would have saved it more had his fictional son not been murdered in florida. "Wie geht's Detroit?" -
Yea... he must be saving it with Obamacare... I see how that one is working too!Originally posted by devilock76
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Detroit raced to file bankruptcy ahead of move to block it
(Reuters) - Detroit's historic municipal bankruptcy filing on Thursday came less than 10 minutes before lawyers for the city's pension funds and retirees had rushed to another court to try to block it.
The bare bones bankruptcy petition, which came at 4:06:22 p.m., blindsided everyone in the room, according to two lawyers who were in state court in Lansing, Michigan, at the time. Even the lawyer representing the governor and the judge were caught unaware.
"I think everybody was surprised," said Bill Wertheimer, an attorney for a group of current and retired Detroit city workers who filed a lawsuit early this month to try to block any bankruptcy.
"The attorney general, he claimed to know nothing about it, like he was deaf, dumb and blind," said Wertheimer, who is paid by the United Auto Workers. "The judge was clearly taken aback."
The largest-ever municipal bankruptcy in U.S. history puts at risk the future of retiree pension and health benefits for thousands of city workers.
Although city retirement benefits are enshrined in Michigan's constitution, Kevyn Orr, the city's state-appointed emergency manager, outlined a plan for creditors that would include significant cuts in pension payments.
(Excerpt) Read more at reuters.com ...If you have any problems with my posts or signature
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"The Detroit Police Officers Association is warning citizens and out-of-towners that they enter Detroit at their own risk, saying that the "grossly...
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