Maybe we can give them to Canada.

The bankruptcy, if approved by a federal judge, would force Detroit's thousands of creditors into negotiations with the city's Emergency Manager Kevyn Orr to resolve an estimated $18.5 billion in debt that has crippled Michigan's largest city.

The future of retiree pension and health benefits for thousands of city workers hangs in the balance.

Anticipating the filing, investors drove prices of Detroit bonds and notes lower, sending their yields to record highs on Thursday.

In a letter accompanying the filing, Michigan Governor Rick Snyder said he had approved a request from Orr to file for Chapter 9 bankruptcy protection noting, "Detroit simply cannot raise enough revenue to meet its current obligations, and that is a situation that is only projected to get worse absent a bankruptcy filing."

Speaking on Channel 4 Detroit after the announcement, Snyder, a Republican, said, "Let's stop the decline. Let's get to stability. Let's get things working in the right direction."

Snyder named Orr in March to tackle the city's spiraling long-term debt, which is estimated at $18.5 billion.

http://www.reuters.com/article/2013/07/18/us-usa-detroit-bankruptcy...

Views: 83

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a video

“What’s His Motive?” - Inside The Mind of George Soros

In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
15 hours ago
Doc Vega posted blog posts
yesterday
cheeki kea favorited Bob of the Family Renner's photo
Tuesday
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"If you're ever out there Doc V and notice giant two legged birds roaming the wilderness be…"
Tuesday
Doc Vega posted blog posts
Tuesday
Burbia commented on TommyD's group The Chuckle Hut
Monday
Doc Vega posted blog posts
Sunday
Doc Vega posted photos
Saturday
Doc Vega posted a blog post

Ashrams and Moonies Perfect Case for Mind Control

 In the late 60’s and into the 70’s we saw a strange phenomenon emerge! That was the rise of cults…See More
Friday
Doc Vega posted a blog post

Modern Progress

 From some things you just can’t come backNot everyone has your backIt might just be a nuclear…See More
Aug 21
Bob of the Family Renner favorited tjdavis's photo
Aug 21
Less Prone favorited Sandy's discussion Sick sci-fi sex fantasy written by Epstein's first benefactor people say inspired his twisted island... before author's SON ended up arresting him
Aug 21
Doc Vega commented on tjdavis's photo
Thumbnail

Now Playing

"They sure as hell are! "
Aug 20
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, yes they have already produced a Wooly Mammoth by crossing DNA from frozen remains in…"
Aug 20
Less Prone favorited tjdavis's photo
Aug 20
Less Prone favorited Bob of the Family Renner's photo
Aug 20
Less Prone favorited tjdavis's photo
Aug 20
Less Prone left a comment for Misteri
"Welcome back!"
Aug 20
tjdavis posted blog posts
Aug 19
tjdavis posted photos
Aug 19

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted