Detroit is officially broke!

[Arin Morris]

 

[n2sooners]

 

[n2sooners]

[video=youtube_share;l4ZQooPHHAA]http://youtu.be/l4ZQooPHHAA[/video]

 

[Cedar Creek]

Maybe Ted Nugent will run for mayor of Detroit - a successful turnaround there would be a great springboard for his Presidential aspirations!

Cedar Creek

 

[DPI]

Never mind. Judge rules it is against the state constitution to diminish the state pensions. Screw the 100000 creditors.

 

[n2sooners]

Never mind. Judge rules it is against the state constitution to diminish the state pensions. Screw the 100000 creditors.

Maybe creditors will smarten up and stop loaning money to governments since they are no longer a safe investment because bankruptcy laws don't apply to them.

 

[DPI]

Creditors also include vendors who have sold services or products to this entity.