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In Four More Years We'll Be Detroit

mlaforet Wrote: Nov 17, 2012 7:00 AM
Two other reasons suggest why Democrats are so easily mislead. The sale of GM to the American taxpayer and consequently the payment of a large portion of that company to the UAW saved the jobs of many GM employees. To do this, debt subordination laws which have been on the books since before the founding of our nation were thrown out the window. When the GM bond holders balked, they were labeled as greedy and unpatriotic, and then screwed completely by the Obama Administration. (One of my friends, a bond holder, suggested Obama deserved jail for this breach) People do strange things in strange circumstances but breaking the law is the continuing force behind most actions taken by Mr. Obama. He holds himself above the law. I dare say Mitt co

From one moment to the next the city of Detroit doesn’t know where its next bailout is coming from. Chronically unable to pay its bills, the city looks to the state for cash gifts to stave off default. Operating under the terms of a consent agreement hammered out with the state, Detroit faces fiscal uncertainty largely because it has failed to get adequate concessions from public employee unions that are unsustainable. And those concessions that they have wrested from unions, politicians in Detroit have been unwilling to enforce.     

One prominent Detroit attorney, however, is facing the future of the Motor...

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