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In reply to the discussion: So Detroit- what went wrong? [View all]FarCenter
(19,429 posts)54. The US Constitution grants Congress the right implement bankruptcy law
Bankruptcy in the United States is governed under the United States Constitution (Article 1, Section 8, Clause 4) which authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." Congress has exercised this authority several times since 1801, most recently by adopting the Bankruptcy Reform Act of 1978, as amended, codified in Title 11 of the United States Code and commonly referred to as the "Bankruptcy Code" ("Code" . The Code has been amended several times since, with the most significant recent changes enacted in 2005 through the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA). Some law relevant to bankruptcy is found in other parts of the United States Code. For example, bankruptcy crimes are found in Title 18 of the United States Code (Crimes). Tax implications of bankruptcy are found in Title 26 of the United States Code (Internal Revenue Code), and the creation and jurisdiction of bankruptcy courts are found in Title 28 of the United States Code (Judiciary and Judicial procedure).
While bankruptcy cases are filed in United States Bankruptcy Court (units[1] of the United States District Courts), and federal law governs procedure in bankruptcy cases, state laws are often applied when determining property rights. For example, law governing the validity of liens or rules protecting certain property from creditors (known as exemptions), may derive from state law or federal law. Because state law plays a major role in many bankruptcy cases, it is often unwise to generalize some bankruptcy issues across state lines.
While bankruptcy cases are filed in United States Bankruptcy Court (units[1] of the United States District Courts), and federal law governs procedure in bankruptcy cases, state laws are often applied when determining property rights. For example, law governing the validity of liens or rules protecting certain property from creditors (known as exemptions), may derive from state law or federal law. Because state law plays a major role in many bankruptcy cases, it is often unwise to generalize some bankruptcy issues across state lines.
http://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States
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Kicking the can down the roadism. Pensions, TBTF bank loans, Wall Street fuckery.
Safetykitten
Jul 2013
#2
Quite simply, Detroit and much of what was industrialized Michigan, is a testament...
MrScorpio
Jul 2013
#5
Two full generations from now, the US as it is today and the wreckage of what it once was
Javaman
Jul 2013
#23
The Bethlehem Steel plant at Sparrows Point did not have to be closed. It was closed because
byeya
Jul 2013
#40
The state of Michigan (Governor Snyder) stripped Detroit of all its independent authority and
Liberal_Stalwart71
Jul 2013
#8
Unionized Detroit abandoned by Big 3 for non-unionized locales in the South.
reformist2
Jul 2013
#10
Governor Rick Snyder and Dennis Archer and Kwame Kilpatrick and years of
mstinamotorcity2
Jul 2013
#12
Factories moving to suburbs, school quality, corruption, corruption, corruption
JPZenger
Jul 2013
#17
I think there are a lot of correct answers in this thread that need to be combined.
last1standing
Jul 2013
#18
The state can request that the filing be withdrawn, but it is up to the Federal court to dismiss it.
FarCenter
Jul 2013
#42
and if the state can't pursue the case because it is declared unconstitutional
Motown_Johnny
Jul 2013
#50
Years of nation-wide support by politicians for let's-send-manufacturing-jobs-to-foreign-countries
AnotherMcIntosh
Jul 2013
#51