Detroit Files Bankruptcy vol. Largest Municipal Bankruptcy in U.S. history.

So sad. I really don't see why some billionaires just doesn't invest in the city. It could turn into a gold mine for them
 
It went all downhill for the D following the riots and the ensuing white flight.

Yep. Once the largest taxpayers started moving to Troy and the like, it was a wrap. I love Detroit though, I hope they make a turnaround. Bankruptcy is necessary.
 
Exactly. That's why I wanted ppl to elaborate.......

It's already happening in Cali. Like 3/4 decent (but not major) sized cities have filed for chap 9. I think Stockton was the largest. Isn't Oakland close?
 
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this will never happen in california.

too much money and industries.
i can see this happening to NY tho

If it can't happen in Cali then what makes you think it can happen in NYC? NYC is more of a financial power than Cali

But this can happen to any city in any country
 
After having over 20 years or something with liberals running the city, theres bound to be no money......... Also when you have people in unions complaining about how their 60-70k/yr isn't enough while sitting on a machine and needing colas every year you'll run out eventually. Get rid of the union contracts and have private sectors invest into the zone

how is it that NY, Cali, and my home state of illinois are near bankruptcy and somehow ran by democrats lulz
 
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CALI is doing bad...
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http://en.wikipedia.org/wiki/San_Diego_pension_scandal

http://legacy.utsandiego.com/news/metro/pension/

http://www.latimes.com/news/local/la-me-filner-20130716,0,3575515.story

http://www.huffingtonpost.com/tag/stockton-ca-bankruptcy

http://www.washingtontimes.com/news/2013/apr/1/california-red-1272-billion-state-auditors-say/
da amount of people leaving cali is astounding as well..
 
how is it that NY, Cali, and my home state of illinois are near bankruptcy and somehow ran by democrats lulz
Right. It kills me and I'm a Dem (social liberal/fiscally conser). Then you look at States like FL and TX and we're creating hella jobs. SMH. It's those effing unions/pensions. 
 
It's already happening in Cali. Like 3/4 decent (but not major) sized cities have filed for chap 9. I think Stockton was the largest. Isn't Oakland close?
No. I guess it can depend on what you mean by close but no, not by any meaningful measure.

We got more than our fair share of problems but there are CA cities in worse financial shape. 
 
this will never happen in california.

too much money and industries.
i can see this happening to NY tho

Nah. The money from all these people coming to NYC is ridiculous.
and it's not just some college kids, it's people with big money Yuppies own this town now they will never turn it into Detroit.
 
I was thinking this too. San Diego is looking bad right now with the Mayor getting hit with charges and the city having to foot the bill when it's already broke because of the pension scandal. :smh:

San Diego has been a primarily conservative place and the pension scandal all arose under republican leadership.
 
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