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(CNN)   Not news: Another Too Big to Fail entity is getting a bailout. Fark: Detroit   (money.cnn.com) divider line 95
    More: Interesting, Detroit, Economic Council, bankruptcy, Shaun Donovan, Gene Sperling  
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1082 clicks; posted to Politics » on 27 Sep 2013 at 1:09 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



95 Comments   (+0 »)
   
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2013-09-27 12:40:03 PM  
Good.
 
2013-09-27 01:08:58 PM  
300,000,000.00
Until they cut deep enough to push the budget into a positive number all the money in the world won't help them.

More money we don't have going into the toilet.
 
2013-09-27 01:09:33 PM  
No they aren't.
 
2013-09-27 01:11:25 PM  
Link doesnt work on my phone.
 
2013-09-27 01:13:29 PM  

HotWingConspiracy: No they aren't.


I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.
 
2013-09-27 01:14:35 PM  
A city government and a bank are the same thing. Duh.
 
2013-09-27 01:15:59 PM  
In this case I think the relevant term is too blue to fail.
 
2013-09-27 01:16:21 PM  

Desquamation: HotWingConspiracy: No they aren't.

I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.


How on earth is that a bailout?
 
2013-09-27 01:17:47 PM  
Not in the least bit surprised.

Now comes the question: for how long will congress spout poutrage and make a complete shiatshow out of it?
 
2013-09-27 01:18:01 PM  
a heavy deomcratic unioninzed city is failing...you don't say
 
2013-09-27 01:18:31 PM  

tbhouston: a heavy deomcratic unioninzed city is failing...you don't say


0/10
 
2013-09-27 01:18:52 PM  
Absolutely ridiculous. It's a city large enough to figure it's own way out of the problem.
 
2013-09-27 01:19:10 PM  

Aristocles: /take note of this, voters, the next time a dem is up for ANY office...


Vote for the party that will just spend it on wasteful Defense projects instead....
 
2013-09-27 01:19:11 PM  

HotWingConspiracy: Desquamation: HotWingConspiracy: No they aren't.

I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.

How on earth is that a bailout?


It's not. I was agreeing with you.
 
2013-09-27 01:20:45 PM  
In before Its because of the Democra oh dammit
 
2013-09-27 01:21:07 PM  
Bailout implies that the US Government is paying off the entire debt and getting the city back into the black (insert joke here).

From what I gathered, it's only donating a few hundred million dollars but the city still has a long way to go still to be fiscally solvent.
 
2013-09-27 01:21:34 PM  

Desquamation: HotWingConspiracy: Desquamation: HotWingConspiracy: No they aren't.

I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.

How on earth is that a bailout?

It's not. I was agreeing with you.


Oh sorry, didn't pick it up.
 
2013-09-27 01:21:42 PM  

HotWingConspiracy: Desquamation: HotWingConspiracy: No they aren't.

I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.

How on earth is that a bailout?


It's money given to help them remain solvent. I don't think most people are myopic enough to claim otherwise.
 
2013-09-27 01:21:56 PM  
We can't help them until they agree to be white
 
2013-09-27 01:22:17 PM  
Can I suggest they auction off one-square miles of the city to neighboring (or new) towns? Perhaps they need to get out of the obligations to police, fire patrol and EMS a mostly-empty city?

Personally, I think that pulling everyone in Detroit into the city center and burning and digging up the greater part of the outland between it and the city would be a good idea. Can you imagine it?
 
2013-09-27 01:22:33 PM  

Mrtraveler01: Aristocles: /take note of this, voters, the next time a dem is up for ANY office...

Vote for the party that will just spend it on wasteful Defense projects instead....


How about stop voting for people more concerned with winning reelection than doing a good job?

Democrats and Republicans both do it. Democrats do by buying the union vote while Republicans do it by buying the religious wacko vote
 
2013-09-27 01:22:33 PM  
Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?
 
2013-09-27 01:22:55 PM  

Mrbogey: It's money given to help them remain solvent. I don't think most people are myopic enough to claim otherwise.


Someone didn't read the article.
 
2013-09-27 01:23:38 PM  

Aristocles: So, BOB is throwing my tax$ into the wind?

Thanks BOB!

/take note of this, voters, the next time a dem is up for ANY office...


upload.wikimedia.org
/no one knows who or what BOB is yet I assume.
 
2013-09-27 01:23:58 PM  

Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?


Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?
 
2013-09-27 01:24:04 PM  

Aristocles: So, BOB is throwing my tax$ into the wind?

Thanks BOB!

/take note of this, voters, the next time a dem is up for ANY office...


thanks ass for the daily bob report
 
2013-09-27 01:24:32 PM  

machoprogrammer: Mrtraveler01: Aristocles: /take note of this, voters, the next time a dem is up for ANY office...

Vote for the party that will just spend it on wasteful Defense projects instead....

How about stop voting for people more concerned with winning reelection than doing a good job?

Democrats and Republicans both do it. Democrats do by buying the union vote while Republicans do it by buying the religious wacko vote


Well, not that you aren't broadly correct, I'll point out that the religious wacko vote is considerably cheaper.
 
2013-09-27 01:24:51 PM  

Mrtraveler01: tbhouston: a heavy deomcratic unioninzed city is failing...you don't say

0/10


dispute anything i said
 
2013-09-27 01:25:54 PM  
I think Boston's Mayor had the right idea about Detroit. Too bad it got offended though.

http://www.freep.com/article/20130903/NEWS01/309030139/boston-mayor- de troit-dave-bing-Thomas-Menino
 
2013-09-27 01:26:09 PM  

tbhouston: Mrtraveler01: tbhouston: a heavy deomcratic unioninzed city is failing...you don't say

0/10

dispute anything i said


It's mean D:
 
2013-09-27 01:27:57 PM  

Debeo Summa Credo: machoprogrammer: Mrtraveler01: Aristocles: /take note of this, voters, the next time a dem is up for ANY office...

Vote for the party that will just spend it on wasteful Defense projects instead....

How about stop voting for people more concerned with winning reelection than doing a good job?

Democrats and Republicans both do it. Democrats do by buying the union vote while Republicans do it by buying the religious wacko vote

Well, not that you aren't broadly correct, I'll point out that the religious wacko vote is considerably cheaper.


Not necessarily, because the side that backs the wackos also backs the defense contractors who the federal government shovels money towards for wasteful defense projects.

6 in 1 half dozen the other really.
 
2013-09-27 01:28:06 PM  

CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?


Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.
 
2013-09-27 01:28:20 PM  

tbhouston: a heavy deomcratic unioninzed city is failing...you don't say


It's all the Republicans fault.... Because they're big-bad-meany-pant's or something...
 
2013-09-27 01:28:52 PM  

Mrbogey: HotWingConspiracy: Desquamation: HotWingConspiracy: No they aren't.

I don't know...

Most of the money is coming from existing federal programs for which Detroit is already eligible. Federal officials are pledging to streamline the flow of money to the cash-strapped city, providing Detroit with some of the resources and assistance they need to access the various programs. They are also helping the city to tap into funds available from private foundations and businesses. None of this money will go to help reduce the staggering debt that forced its July bankruptcy filing.

This certainly screams bailout to me.

How on earth is that a bailout?

It's money given to help them remain solvent. I don't think most people are myopic enough to claim otherwise.


This isn't a bailout.
 
2013-09-27 01:28:59 PM  

tbhouston: Mrtraveler01: tbhouston: a heavy deomcratic unioninzed city is failing...you don't say

0/10

dispute anything i said


It's failing because of Democrats?

How did Orange County, CA fail back in the 1990's then?
 
2013-09-27 01:29:28 PM  

Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.


So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.
 
2013-09-27 01:31:07 PM  
Why?
 
2013-09-27 01:31:09 PM  

Aristocles: So, BOB is throwing my tax$ into the wind?

Thanks BOB!

/take note of this, voters, the next time a dem is up for ANY office...


Aww its ok buddy. I know he broke your heart, but you'll find another guy. It just takes time.
 
2013-09-27 01:31:11 PM  

CPennypacker: Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.

So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.


Everyone knows the banks were just a victim.

They didn't want to participate in those risky practices, the government held a gun up to their head and forced them to, even though they realized that they would make a ton of money if handled correctly.
 
2013-09-27 01:31:26 PM  

Mrtraveler01: Debeo Summa Credo: machoprogrammer: Mrtraveler01: Aristocles: /take note of this, voters, the next time a dem is up for ANY office...

Vote for the party that will just spend it on wasteful Defense projects instead....

How about stop voting for people more concerned with winning reelection than doing a good job?

Democrats and Republicans both do it. Democrats do by buying the union vote while Republicans do it by buying the religious wacko vote

Well, not that you aren't broadly correct, I'll point out that the religious wacko vote is considerably cheaper.

Not necessarily, because the side that backs the wackos also backs the defense contractors who the federal government shovels money towards for wasteful defense projects.

6 in 1 half dozen the other really.


Well, ok then. I agree we waste a shiatload of money on defense, but id argue we aren't buying votes of defense contractors when we buy submarines to the same extend we buy votes with the kind of spending dems like (public sector unions, etc).
 
2013-09-27 01:31:50 PM  

Mrtraveler01: CPennypacker: Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.

So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.

Everyone knows the banks were just a victim.

They didn't want to participate in those risky practices, the government held a gun up to their head and forced them to, even though they realized that they would make a ton of money if handled correctly.


Not sure if joking or Republican
 
2013-09-27 01:33:41 PM  
Unless this money is used to move people OUT of Detroit, it would do exactly jack-shiat.
 
2013-09-27 01:34:00 PM  

CPennypacker: Mrtraveler01: CPennypacker: Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.

So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.

Everyone knows the banks were just a victim.

They didn't want to participate in those risky practices, the government held a gun up to their head and forced them to, even though they realized that they would make a ton of money if handled correctly.

Not sure if joking or Republican


Poe's Law is a biatch ain't it?

/I was hoping the last part would've gave it away
 
2013-09-27 01:34:25 PM  

CPennypacker: Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.

So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.


Well, they did contribute to the "crashing of the economy", along with all the other parties I mentioned.

But unlike Detroit, the big banks actually did pay back their "bailout" loans, at a profit to the taxpayer.
 
2013-09-27 01:34:34 PM  
That's a good start. But Detroit's infrastructure needs work and the city no longer has the employees to do it. On top of sending money, Washington should send in the National Guard and the Army Corps of Engineers.
 
2013-09-27 01:35:08 PM  
Apparently money is not fungible.

Who knew?
 
2013-09-27 01:35:12 PM  
It's not a bailout,  it's just 'donating a few hundred million dollars'.

oh, I see...
 
2013-09-27 01:35:51 PM  

Notabunny: That's a good start. But Detroit's infrastructure needs work and the city no longer has the employees to do it. On top of sending money, Washington should send in the National Guard and the Army Corps of Engineers.


Does anyone have a spare cow and a lantern we can use?

/worked for Chicago
 
2013-09-27 01:36:35 PM  

netcentric: It's not a bailout,  it's just 'donating a few hundred million dollars'.

oh, I see...


In that case I would like to not have a bailout too.
 
2013-09-27 01:38:52 PM  

Debeo Summa Credo: CPennypacker: Debeo Summa Credo: CPennypacker: Debeo Summa Credo: Will they pay this "bailout" back at a profit to taxpayers, like the big banks did?

Only if they crash the entire world economy and then ride it back up and use the proceeds to pay us back?

Crash the entire world economy? Are you speaking of the fed, other central banks, Fannie and Freddie, the rating agencies, investors, financial guarantors, millions and millions of borrowers/homebuyers worldwide, Asian savers, small banks, medium banks, and big banks?

Because I was comparing Detroit to the big banks only.

So was I. Nice deflection, tack them on at the end. Surprised you accept that they had anything to do with it at all.

Well, they did contribute to the "crashing of the economy", along with all the other parties I mentioned.

But unlike Detroit, the big banks actually did pay back their "bailout" loans, at a profit to the taxpayer.


Unlike Detroit? You want them to pay back the money before they get it?

Should we compare scale? AIG got 67 Billion. BOA and Citi got 45.

Do you have a point? Is it hard to type with big finance's dong blocking your windpipe?
 
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