Detroit bankruptcy challenged in court

Detroit’s bankruptcy was challenged in court Friday by government workers fighting to protect their retirement benefits as Michigan’s governor insisted it is the only way for Motown to survive.

A Judicial principal "what's been given should not been taken away" should be applicable to this case.

A Judicial principal "what's been given should not been taken away" should be applicable to this case.

Then how are they going to pay for it?

About $9 billion of the city’s debt is owed to the pension funds and retiree health care benefits of the Detroit’s 10,000 employees and 20,000 retirees.

Those persons should be sued by Detroit for leaving the city in the mess that it is in. How can one say that they did honest work for the city, and have the results that we see to show for it?

Unions are ok if you want them, but when youi have public employee unions, who offer nice benefits that are not paid by the union itself, but that fall on the taxpayers, then they need to be reined in. It is the unions that are blocking Detroits chances to come out of this.

AlphaapeJul. 20, 2013 - 09:05AM JST

A Judicial principal "what's been given should not been taken away" should be applicable to this case.

Then how are they going to pay for it?

It will be up to a federal judge to determine if Detroit is allowed to restructure—and even shed—its obligations in a Chapter 9 bankruptcy.

http://www.youtube.com/watch?v=V6Su5mjQSaE

No need to worry here. ==> Obama refused to let Detroit go bankrupt in 2012.

Even a state constitution can't prohibit seeking a federal barkruptcy protection. Commerce clause prevails. Separation of powers.

Steven C. SchulzJul. 20, 2013 - 10:11AM JST

Even a state constitution can't prohibit seeking a federal barkruptcy protection. Commerce clause prevails. Separation of powers.

???? I am lost here. Please explain with a case example, please.

globalwatcherJul. 20, 2013 - 08:26AM JST

Detroit’s bankruptcy was challenged in court Friday by government workers fighting to protect their retirement benefits as Michigan’s governor insisted it is the only way for Motown to survive.

A Judicial principal "what's been given should not been taken away" should be applicable to this case.

Interesting, some do not understand this simple concept of commercial law. Be honest to yourself. If you break an engagement promise, do you ask a ring back from your woman you once loved? If you do, you are a "cheap Charlie" and you cannot force it legally. It is a law.

I’m both a resident and a business owner in Detroit, but I don’t think it’s going to affect me on any intimate level, she said, as a steady stream of customers perused the clothes in her shop.

Shes in lala land I think.

This is the reason why I don't want to pay into pension funds. In the US the pension is not a right for people to recieve even though they have paid in to for many years. Its actualy classified as an obligation and a tax. Its scarey that this is never explained to the poor people forced to pay into it.

Thanks for you input, Farmboy. It's nice when something called "reality" intrudes, as further proof that the anti-Obama neo-cons are living in a twisted fantasy world.

It's nice when something called "reality" intrudes, as further proof that the anti-Obama neo-cons are living in a twisted fantasy world.

Have a little faith, Obama also promised to cut the deficit in half before his first term in office.

http://www.youtube.com/watch?v=XUNCsm8vzXg

FarmboyJul. 20, 2013 - 11:40AM JST

No need to worry here. ==> Obama refused to let Detroit go bankrupt in 2012.

Badsey,

No, that's incorrect. Obama was refering to GM and Chrysler, not to the city of Detroit. Obama's actions allowed those companies to work their way out of bankruptcy.

I think Badsey already know that. He just wants to blame everything to President Obama as he is a Black President. If you carefully pay attention to some posts on JT, you can spot them. They have nothing to say. Their comments have NO REASONING SKILLS.

And hope and change has helped Detroit I see. Depends on what hope is hoped for and the change...Done!

The pension funds that are taking the bankruptcy to court don't have much of a chance. Their claim is unsecured and will be addressed after municipal bond holders who are likely to get pennies on the dollar. Judge will probably end up selling off Water, Sewage, and possibly Belle Isle which is what I and other sensible Detroit residents have been advocating for years considering the misuse and massive cost overruns.

The public union bosses in Detroit have been getting payoffs from mayors and city council members for decades in exchange for their support. The city government and unions have been robbing the city blind for years, I'm all out of sympathy for these people.

Maybe I'd be more open to their plight if the city could do basic things like replace streetlights or fill potholes or, you know, not fine me when I fill them myself, or respond to a 911 call in under 45 minutes, or any number of basic functions that I pay city income taxes for. I've stayed in the city and I helped make my neighborhood a little stronghold of civility in this broke town, no thanks to the city and no thanks to the robber barrens in the union hierarchy.