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happyslug

(14,779 posts)

20. Actually, the US Supreme Court has ruled otherwised

Mon Jul 22, 2013, 12:31 PM

Jul 2013

Original Chapter IX was ruled to be unconstitutional for it interfered with HOW a state could set itself up. Later on a highly modified Chapter IX was approved by the US Supreme Court, once Congress made it clear that the State had to agree AND THAT SUCH AGREEMENT MUST COMPLY WITH STATE LAW.

Thus the Governor just can not agree to the Bankruptcy, State law must permit the State to agree. If State law does NOT permit it, then the filing is unconstitutional for it interferes with how a state forms itself and its municipalities.

This is the chief reason they have been only 500 municipal bankruptcies since Chapter IX (Now Chapter 9 of the Bankruptcy Code) passed in 1934.

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Cries of Betrayal as Detroit Plans to Cut Pensions [View all] Lasher Jul 2013 OP

so goeth Detroit, so goeth the nation Skittles Jul 2013 #1

These pensions are even particularly significant Major Nikon Jul 2013 #3

+1 nt Live and Learn Jul 2013 #4

Plus the very little they had to contribute to Political Parties is no longer available Bandit Jul 2013 #17

There'll be something. Igel Jul 2013 #19

Exactly. We're screwed. Squinch Jul 2013 #6

Sell off the rest Lonr Jul 2013 #2

"It's about better services to citizens again. It's about accountable government." ReRe Jul 2013 #5

Yeah where is that? abelenkpe Jul 2013 #9

You said it. daleo Jul 2013 #48

"It's theft. Period." woo me with science Jul 2013 #41

Don't want to be too blunt on some DUers sensibilities, but.... ReRe Jul 2013 #42

"They want more for themselves and less for everyone else,." Civilization2 Jul 2013 #7

It's about delusional thinking coming home to bite people cap Jul 2013 #8

Well we can rest assured cvoogt Jul 2013 #10

But they are still trying to proceed. Lasher Jul 2013 #11

This is federal bankruptcy law. former9thward Jul 2013 #12

I had failed to grasp that aspect. Lasher Jul 2013 #13

I'm sure there will be multiple challenges. former9thward Jul 2013 #16

Actually, the US Supreme Court has ruled otherwised happyslug Jul 2013 #20

Ok, we will see how it plays out. former9thward Jul 2013 #23

When California was in a fiscal crisis warrior1 Jul 2013 #14

But Michigan has a Republican Governor. Lasher Jul 2013 #15

You are welcome to think that Big_Mike Jul 2013 #47

Where would you like the money to go? Dreamer Tatum Jul 2013 #18

Corporation's are offshoring trillions. xtraxritical Jul 2013 #21

In other words, you have nothing. nt Dreamer Tatum Jul 2013 #22

What are you smoking? Trillions going offshore isn't nothing. snagglepuss Jul 2013 #26

Show me how you plan to take a dollar, let alone trillions, from offshore Dreamer Tatum Jul 2013 #27

Working from the book, eh? woo me with science Jul 2013 #37

Thank the fuck Christ you're not in charge of anything! Dreamer Tatum Jul 2013 #38

I wish could recommend this post. Bravo! neverforget Jul 2013 #46

Start reading the literature on capital flight cap Jul 2013 #39

If you offshore, no more tax cuts, nothing of the US adigal Jul 2013 #44

There is plenty to go around, it's just a matter of priorities. Lasher Jul 2013 #24

So you'd take all foregone revenue for the US Treasury Dreamer Tatum Jul 2013 #28

I think it's pretty clear that all that wasted revenue is not needed in Detroit. Lasher Jul 2013 #34

That was the Bush endless war or nearly endless. cstanleytech Jul 2013 #31

Wow. You guys don't even pretend anymore, do you. nt woo me with science Jul 2013 #25

Pretend to what, not ridicule stupid ideas? No, I don't. Dreamer Tatum Jul 2013 #29

Wow. Just wow. woo me with science Jul 2013 #32

Got it. A few people have a lot of money. Yawn. Dreamer Tatum Jul 2013 #33

What an absurd post. woo me with science Jul 2013 #35

Yup. Thought so. nt Dreamer Tatum Jul 2013 #36

We did have a 90% tax rate after WWII cap Jul 2013 #40

Isnt it time that pensions be severed? cstanleytech Jul 2013 #30

simple solution..Detroit should copy the actions of cities quadrature Jul 2013 #43

What those who attack public employee pensions don't tell you KamaAina Jul 2013 #45

+ a gazillion n/t Scout Jul 2013 #49