Usually, when the administration needs a distraction from just how broke and insolvent in reality the country is, it sends the stock market soaring higher. As such it is beyond ironic that as the S&P is set to hit an all time high, Detroit - that shining symbol of the Obama administration's bailout of General Motors - effectively goes broke.
MICH. GOV SNYDER TO ANNOUNCE STATE TAKEOVER OF DETROIT
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Detroit Mayor Dave Bing says Governor Rick Snyder will announce a state takeover on Friday
Detroit Mayor Dave Bing says Michigan Governor Rick Snyder will announce a state takeover of the city of Detroit on Friday.
Bing says the governor told him his decision during a phone conversation this morning. Bing was talking with reporters following a speech before the Detroit Regional Chamber at the MotorCity Casino.
The city will have 10 days to appeal the decision to the governor.
7 Action News has teams working the story to get more details.
If only Detroit had gone all in the stock market when Bernanke made it his life's crusade to take the Dow to 36,000 and blow up everyone else, trying...
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
Heard Detroit Lions stadium sold for $500,000.00.Man I could do a lot with that!
Detroit needs better marketing strategies to get tourism going, like New Jersey's "The Garden State". How about "Obama's Jewel of Michigan".
Just wait until the remaining taxpayers in Michigan get told that THEY will be paying for the ghetto clean-up and all the street lights that have been shot out. And the continued welfare payments to families who haven't had a job for several generations. Its either bankruptcy, higher taxes, or just throw their hands up and walk away. The degeneration of our cities is picking up speed....
a beautiful example of liberal progressive policies. the welfare state at its best. who is next???
Get ready to pay for the bailout!!
If Liberalism worked then Detroit would be Palm Beach..Just sayin..
We should test our nukes there.
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