What happens if detroit cannot pay for its police etc..
- Thread starter noob_trad3r
- Start date
Why don't you give a shit tards fix it, before you have to go begging for the federal govt teat?
what makes you think he lives in Detroit?
That's what is called when a company who was not money starts to make money
http://money.cnn.com/2013/04/02/news/companies/fannie-mae-record-profit/index.html
Mortgage financing giant Fannie Mae Tuesday reported a record profit of $17.2 billion for 2012, a testament to how much the housing market has improved lately.
Just four years ago, the government had to step in and take control of Fannie Mae, which was brought down to its knees by deep losses from foreclosures and plunging home prices after the real estate bubble had burst.
It was the first full year profit reported by the company since 2006, and marked a significant turnaround from the $16.9 billion loss it posted for 2011.
It also means that Fannie Mae is poised to pay tens of billions of dollars in additional dividends to the U.S. Treasury, perhaps as soon as this quarter, in what could turn out to be its largest repayment to date. The government has pumped in $116 billion in bailout funds in its rescue of the company.
A secessionist like yourself may not understand that Detroit is an American icon that needs to be cleaned up. Michigan does have it in it's constitution to take over the city if failure is imminent, and they should.
Sometimes choices have to be made. New York was cleaned up. The Motor City has to make a choice. If they don't, it needs to be made for them.
Do I believe that Detroit can undergo a successful restructuring? Yes, perhaps with full-blown bankruptcy to rid any union obligation it may have. Do I believe there is the political will for such a move? No. I think what happens to Detroit and the greater Michigan is akin to what will happen to Greece and a greater EU: An extension of debt, no real restructuring, and trying to solve debt with debt but ignoring the underlying issues that got it there.
My question to you P(recious)M(etals) Is:
If detroit needs cleaning up, who are the scum that sullied it?
