Subject: RE: Detroit files Chapter 9 Originally posted by velocomp So at what point does bankruptcy mean something? Now they are saying they are going to pay for a 450 million dollar arena for the Red Wings. How does that happen. I know the team is important to them, but they are bankrupt. Why not use that to help with the 1 billion in unfunded pensions. Hmmmm. You're trying to instill logic into government dealings. lol Personally, I suspect the BK will be nothing more than a mechanism to allow them to re-negotiate (or eliminate) their union contracts. The sad part is partisan politics won't allow them to genuinely realize the cause of their issues in the first place. I suspect the elected officials will still want to be "pro union" and "pro tax the rich" after the BK and the financial log jam will hit again in the not to distant future. |