Anyone here live in Detroit?

[Alpin]

Detroit filed for bankruptcy. Where was Obama?
He said he would not let Detroit go bankrupt. Another broken promise!!!!

 

[unkazra1]

Detroit filed for bankruptcy. Where was Obama?
He said he would not let Detroit go bankrupt. Another broken promise!!!!

What up bro?? I'm bout 45 mins outside the "D". Yeah this shit ain't looking good. All promises by politicians seem to be empty vessels. Democrat and Republicans..they are all run by corporations now. I was really hoping Obama would have done a better job. It was such a milestone moment for the US when he was elected..I was happy for Black America (I'm caucasian). I really thought Obama could have been special. A black JFK, but he's no different then the rest of them. He fixed nothing..made some things worse. He saved GM...to let them move jobs to China.

 

[Alpin]

Disaster!!
What is up setting is he said he would keep Detroit from going tits up...
another broken promise/lie.
W.T.F. happens in a situation like this over there bro?
cause in banking terms, when you don't have money to pay your loans, creditors automatically cut off the funds(as all lenders do when you can't pay). How will the city run without the financial loans it needs???
I'm sure pensions, payroll, e.t.c. need to be paid...

 

[unkazra1]

Disaster!!
What is up setting is he said he would keep Detroit from going tits up...
another broken promise/lie.
W.T.F. happens in a situation like this over there bro?
cause in banking terms, when you don't have money to pay your loans, creditors automatically cut off the funds(as all lenders do when you can't pay). How will the city run without the financial loans it needs???
I'm sure pensions, payroll, e.t.c. need to be paid...

And they have ruled out any financial relief from the Fed. I think secretly..they want it to go under. God I hope im wrong. Think about what happens to this country if Detroit goes under..is it just the first domino?? Look what the banks in Crete or Cyprus just did. They were going under and froze all accounts. Took upwards of 25-30% from its largest depositors..and 10% from its depositors under $100k. Then reopened doors with retrictions on how much depositors could withdraw...so the system didnt break. I suppose they could some like that to save the city. They would go after pensions first I would assume. So the people of D..the working people, could shoulder the load along with creditors...who in turn screw everyone else. Dont look good. Hopefully people way smarter than I am got this!