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Detroit Won't Pay $2.5B It Owes


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:lol: --- libturd policies at work!

 

 

Emergency Manager: Detroit Won't Pay $2.5B It Owes

By COREY WILLIAMS Associated Press

ROMULUS, Mich. June 14, 2013 (AP)

Detroit's emergency manager says the city is defaulting on about $2.5 billion of debt.

Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less.

Orr spent about two hours Friday morning with dozens of people representing banks, insurers and companies holding Detroit debt. He told reporters earlier at an airport hotel in Romulus he wants to fix fiscal problems that have made the city insolvent.

He has instituted a moratorium on all of Detroit's payments on unsecured debt, seeking forgiveness of millions of dollars owed by the city.

He also said $1.25 billion will be set aside over 10 years for public safety, lighting and neighborhood blight elimination.

 

http://abcnews.go.com/US/wireStory/emergency-manager-detroit-pay-25b-owes-19403331#.UbuIUPnn_Z4

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The emergency manager that made this decision was appointed by Rick Snyder, Republican Governor of Michigan; so we can blame the Republicans for the decision to default on the debt.

http://www.huffingtonpost.com/2013/03/14/kevyn-orr-detroit-emergency-manager_n_2875905.html

Michigan Gov. Rick Snyder recommended Kevyn Orr, a bankruptcy lawyer with the firm Jones Day in Washington DC, to become Detroit's emergency financial manager on Thursday, March 14, 2013 (Courtesy Jones Day).

Michigan Gov. Rick Snyder has been considerably tight-lipped about his pick for Detroit's emergency financial manager. But on Thursday he finally ended intense media speculation by recommending Kevyn Orr, a partner with the Jones Day law firm, for the position.

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Detroit has been run by the dems for the last 40 years, now you know why they went bankrupt. Had nothing to do with the repubs except they moved out in the late 60's when Mayor Coleman Young (D) allow the crooks to mug everybody on the street who had a wallet or purse.

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The emergency manager that made this decision was appointed by Rick Snyder, Republican Governor of Michigan; so we can blame the Republicans for the decision to default on the debt.

http://www.huffingtonpost.com/2013/03/14/kevyn-orr-detroit-emergency-manager_n_2875905.html

Michigan Gov. Rick Snyder recommended Kevyn Orr, a bankruptcy lawyer with the firm Jones Day in Washington DC, to become Detroit's emergency financial manager on Thursday, March 14, 2013 (Courtesy Jones Day).

Michigan Gov. Rick Snyder has been considerably tight-lipped about his pick for Detroit's emergency financial manager. But on Thursday he finally ended intense media speculation by recommending Kevyn Orr, a partner with the Jones Day law firm, for the position.

 

 

You are a complete moron. Blame the Republicans?

It took decades to crush the city. Did ok until Soulman Young enabled shitheads to rule. And he was a bigger crook than anyone since.

 

The people that know are the ones who lived through this stuff. Go find a link or something, stupid.

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Because of the default Detroit will have to pay higher interest rates the next time they borrow. There is no free anything. Detroit will pay for this foolishness for decades. Another dem. success story.

 

And Obama is duplicating here in the U.S. with the same policies!!!!!!!!!!!!!!!!!!!!!!!!

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:lol: --- libturd policies at work!

 

 

Emergency Manager: Detroit Won't Pay $2.5B It Owes

 

By COREY WILLIAMS Associated Press

 

ROMULUS, Mich. June 14, 2013 (AP)

 

Detroit's emergency manager says the city is defaulting on about $2.5 billion of debt.

 

Kevyn Orr said Friday that Detroit is asking creditors to take about 10 cents on the dollar of what they're owed. Underfunded pension claims will get less.

 

Orr spent about two hours Friday morning with dozens of people representing banks, insurers and companies holding Detroit debt. He told reporters earlier at an airport hotel in Romulus he wants to fix fiscal problems that have made the city insolvent.

 

He has instituted a moratorium on all of Detroit's payments on unsecured debt, seeking forgiveness of millions of dollars owed by the city.

 

He also said $1.25 billion will be set aside over 10 years for public safety, lighting and neighborhood blight elimination.

 

http://abcnews.go.com/US/wireStory/emergency-manager-detroit-pay-25b-owes-19403331#.UbuIUPnn_Z4

The emergency manager was appointed by a Republican governor. Is it that you rightwards just know how to accept personal responsibility for anything, or just your own failures?

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The emergency manager was appointed by a Republican governor. Is it that you rightwards just know how to accept personal responsibility for anything, or just your own failures?

 

Your a racist for pointing out a Republican Governor appointed a capable Emergency Manager to correct a serious problem. BTW, the EM is black!

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:lol: --- libturd policies at work!

 

 

Emergency Manager: Detroit Won't Pay $2.5B It Owes

 

By COREY WILLIAMS Associated Press

 

ROMULUS, Mich. June 14, 2013 (AP)

 

Detroit's emergency manager says the city is defaulting on about $2.5 billion of debt.

WTF dumbass, returds are famous for bailouts, subsidies, etc. and never pay back a damned dime. Where is the Wallstreet return of a trillion as.shole?? Get your fking priorities in order dumbchit!! LMAO!!

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WTF dumbass, returds are famous for bailouts, subsidies, etc. and never pay back a damned dime. Where is the Wallstreet return of a trillion as.shole?? Get your fking priorities in order dumbchit!! LMAO!!

 

Watch your language!! There are adults here... if you can't behave move back to Africa!

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hmmmm... who's the major of Detroit??

Doesn't matter who the mayor is. Once the Republican governor appointed the emergency manager, the city was under complete Republican control at that point with all of the decision making coming from the governor and the emergency manager. Apparently it was a failed policy by the governor who now has to explain to the citizens why he appointed himself imperial grand dragon, and threw out a democratically elected government in favor of a dictatorship. The failed communist policies of a failed Republican led state.

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Doesn't matter who the mayor is. Once the Republican governor appointed the emergency manager, the city was under complete Republican control at that point with all of the decision making coming from the governor and the emergency manager. Apparently it was a failed policy by the governor who now has to explain to the citizens why he appointed himself imperial grand dragon, and threw out a democratically elected government in favor of a dictatorship. The failed communist policies of a failed Republican led state.

Detroit didn't get messed up by republicans. You should try to sell that to some naïve college kids.

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Doesn't matter who the mayor is. Once the Republican governor appointed the emergency manager, the city was under complete Republican control at that point with all of the decision making coming from the governor and the emergency manager. Apparently it was a failed policy by the governor who now has to explain to the citizens why he appointed himself imperial grand dragon, and threw out a democratically elected government in favor of a dictatorship. The failed communist policies of a failed Republican led state.

 

oh... shall we count California in? :lol:

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