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Detroit files for biggest US city bankruptcy
 
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#31
07-19-2013
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Quote:
Originally Posted by own-dizzle View Post
ala investopedia:

"Bankruptcy offers an individual or business a chance to start fresh by forgiving debts that simply can't be paid while offering creditors a chance to obtain some measure of repayment based on what assets are available."

Detroit's known for cars like Chrysler etc., which needed financial aid from stimulus packages after the 2008 crisis. Put simply, Detroit's been in a shitty state getting financial aid already
Right, but they never declared bankruptcy, which, by the definition you've posted (which is limited in scope), is a completely different thing than what you've described. It's kind of a big deal.
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#32
07-19-2013
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"Being bankrupt" is not the same as "declaring bankruptcy."

Thanks.

Anyway, Rick Snyder is a fucking asshole and I can't wait to see him try to solve the city's woes by liquidating the Detroit Institute of Arts or some other stupid thing.


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#33
07-19-2013
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It's insane to me that you guys aren't seeing the difference. This is why we can't have nice things.
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#34
07-19-2013
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Morons. Morons everywhere
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#35
07-19-2013
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It's a fucking shame our school systems have failed this hard to not teach the difference between being broke and filing for fucking bankruptcy. Holy shit.
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#36
07-19-2013
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Originally Posted by Tobey View Post
It's a fucking shame our school systems have failed this hard to not teach the difference between being broke and filing for fucking bankruptcy. Holy shit.
Our schools can barely teach kids math and science
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#37
07-19-2013
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rip is currently viewing this thread....

so

RIP Detroit
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#38
07-19-2013
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OMG detroit.. filed for bankruptcy? says morons
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#39
07-19-2013
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I can't imagine being in need of immediate help from the police and have them not show up for 58 minutes.
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#40
07-19-2013
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I can't imagine being in need of immediate help from the police and have them not show up for 58 minutes.
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