So Detroit has finally been declared bankrupt…really?
I have been saying for years that an incredibly corrupt and
incompetent city government that received millions from state and federal
sources and has nothing but debt and bad services to show for it has only one
place to go and that is into forced bankruptcy.
I laughed when our governor Rick Snyder tried to forestall
bankruptcy by working with the city to get a plan into place that could lead to
solvency. Snyder knew he was working with idiots but he had to try; the
emergency manager did the same even though he knew the outcome also.
Interestingly the residents of the city are showing signs of
support for the bankruptcy because they are using street logic which states
that things cannot possibly be or get any worst so things have to start getting better
since there is no way left but UP.
Yes, we are making history as the largest municipality to
declare bankruptcy and I have already received calls from my friends in Poland
where this issue is making headline news since DETROIT is known around the
world as the MOTOR CITY or the AUTOMOBILE CAPITAL of the world…how could this
happen they ask.
Even here, people are looking for scapegoats; someone or something
to blame for this so called economic disaster.
A few books will be written, I am sure, which will detail
every stupid step the city took to hasten its own demise with a picture of Kwame
Kilpatrick and Coleman Young on the cover.
Governor Snyder finally got pissed off enough at stupid
questions like why doesn’t the state bail the city out and said look, you have
been heading down this road for decades because of your incompetence,
mismanagement and corruption so now it is time to take your medicine.
This bankruptcy case will be quite interesting since there
are so many variables and issues including pension obligations which are at absurd
levels since the idiots in city hall promised city workers nirvana in pension
benefits not for their stellar work performance but for their votes but
pensions are guaranteed by state law unless federal law trumps state law which
it does.
Let the games begin…
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