• Sprott Money
    05/26/2016 - 05:58
    How many “emergency” “secret” meetings do the central planners around the world need to have before the citizens of the respective countries begin to fully understand and take notice that something...

Detroit To Be Taken Over By The State

Tyler Durden's picture




 

Usually, when the administration needs a distraction from just how broke and insolvent in reality the country is, it sends the stock market soaring higher. As such it is beyond ironic that as the S&P is set to hit an all time high, Detroit - that shining symbol of the Obama administration's bailout of General Motors - effectively goes broke.

  • MICH. GOV SNYDER TO ANNOUNCE STATE TAKEOVER OF DETROIT

More:

Detroit  Mayor Dave Bing says Governor Rick Snyder will announce a state takeover  on Friday

 

Detroit Mayor Dave Bing says Michigan Governor Rick Snyder will announce a state takeover of the city of Detroit on Friday.

 

Bing says the governor told him his decision during a phone conversation this morning. Bing was talking with reporters following a speech before the Detroit Regional Chamber at the MotorCity Casino.

 

The city will have 10 days to appeal the decision to the governor.

 

7 Action News has teams working the story to get more details.

If only Detroit had gone all in the stock market when Bernanke made it his life's crusade to take the Dow to 36,000 and blow up everyone else, trying...

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 02/28/2013 - 15:10 | 3286876 localsavage
localsavage's picture

Maybe they can hire Corzine to run the place.

Thu, 02/28/2013 - 15:11 | 3286881 Joe Davola
Joe Davola's picture

They should have donated it to Canada.

Thu, 02/28/2013 - 15:13 | 3286900 Divided States ...
Divided States of America's picture

Canadians are gullible...but not that gullible. They already have too much junk.

Thu, 02/28/2013 - 15:15 | 3286913 TerminalDebt
TerminalDebt's picture

how long until the fed takes over mich?

Thu, 02/28/2013 - 15:18 | 3286939 myptofvu
myptofvu's picture

A broke City taken over by a broke State..sshhhh..don't tell me how it ends!

Thu, 02/28/2013 - 15:21 | 3286942 MillionDollarBonus_
MillionDollarBonus_'s picture

For all my preaching about the virtues of global governance, I have to admit that the libertarian camp has been far more successful in marketing itself to young people. Populist libertarianism has all the rebellious connotations of "fighting the man", in addition to the radical extremism that tends to attract angry nihilistic teenagers.

If the progressive movement wants to attract more young people, I'm afraid we need to change fast. In order to catch up, we need to start with something radical. So here's my suggestion: We create a United Nations pop group, made up of ten trendy teenagers, one from each of ten different countries. The first singer can be a Chinese yuppie hipster with a "rebel from a rich family" kind of look. The second will be a softer Justin Bieberesque Indian kid who interrupts each song with a serene interlude that make the girls go crazy. This will be the first multilingual pop group in existence, and its going to be awesome. Finally, global governance will be cool, and generation X will have to think hard before they join the ranks of sad, lane libertarians.

Thu, 02/28/2013 - 15:21 | 3286961 Dr. Richard Head
Dr. Richard Head's picture

That group should also give away free iPad minis by shotting them out of the asses of the pop group performers. 

I'm starting to like your style douche-bag!

Thu, 02/28/2013 - 15:23 | 3286971 francis_sawyer
francis_sawyer's picture

Oh boy! ~ Snake Plissken vs. the Duke again...

Thu, 02/28/2013 - 15:30 | 3287018 CH1
CH1's picture

BULLISH!

Thu, 02/28/2013 - 15:46 | 3287116 kaiserhoff
kaiserhoff's picture

Black Holes like Dee-troit are why God invented bankruptcy.

Thu, 02/28/2013 - 15:58 | 3287179 AlaricBalth
AlaricBalth's picture

I once read that if someone were to die in Detroit, and then end up in Hell, they would probably think they were in Heaven.

Thu, 02/28/2013 - 16:07 | 3287209 Dr Paul Krugman
Dr Paul Krugman's picture

This article has no source.  I am not saying that what Tyler wrote isn't true, but the source link isn't working.  Detroit is on the rocks though, so this isn't surprising.

Who Will Bail Out Detroit?:

http://www.cnn.com/video/?hpt=hp_bn1#/video/business/2013/02/28/pkg-harlow-detroit-economy.cnn

Thu, 02/28/2013 - 16:16 | 3287227 knukles
knukles's picture

If you'd tamp down your Nobel crisped ego little more, you'd find it to be WXYZ tv in Detroit, dipshit.

And what, pray tell does Detriot being on the rocks have to do with a private entity link "not working"?

Thu, 02/28/2013 - 16:18 | 3287288 FEDbuster
FEDbuster's picture

MDB you keep your Micheal Jackson inspired "We are the World" pop group, the Liberty Movement already has HeistClick singing about "Burning down the Watchtower" (End the FED)

https://www.youtube.com/watch?v=Ni7lxgt9bdY&list=UU0ig-EwhNEi79ybNtAuVG7...

Thu, 02/28/2013 - 17:10 | 3287548 TwoShortPlanks
TwoShortPlanks's picture

Ah-yes, the birth of the 'Capitol', "and may the odds forever be in your favour"....Michiganees!

http://images4.wikia.nocookie.net/__cb20120131224153/thehungergames/images/0/0e/Article-2061577-0ECCFD2C00000578-851_634x262.jpg

PS. You don't actually get to live there; you just lose the place to a bunch of Borzoi walking globalist fags with coloured hair mousse who talk like an endless loop of a scene from 'Zoolander'.....much like L.A.

Thu, 02/28/2013 - 17:28 | 3287645 New England Patriot
New England Patriot's picture

2013:

 

Cities: Please buy us up!

 

States: Okay, if you insist...

 

2014:

 

States: Please buy us up!

 

Feds: Okay, if you insist...

 

2015:

 

...

Thu, 02/28/2013 - 17:34 | 3287664 YBNguy
YBNguy's picture

This monument in Detroit speaks volumes about its denizens. Michigan, and the US, are about to get fisted by their upcoming bailout.

http://discoverblackheritage.com/wp-content/uploads/2007/03/fist2.jpg

Thu, 02/28/2013 - 17:49 | 3287744 flacon
flacon's picture

THE CORPORATION OF THE CITY OF DETROIT IS TAKEN OVER BY THE CORPORATION OF THE STATE OF MICHIGAN. 

 

Like that's going to help. 

Thu, 02/28/2013 - 18:15 | 3287854 Divided States ...
Divided States of America's picture

Well, taking Detroit over may not be a bad idea. I mean, you basically get a hold of the most lethal state in terms of firearms and guns. There's probably three firearms for every person there.

Thu, 02/28/2013 - 19:50 | 3288220 UP Forester
UP Forester's picture

And that's if you include them fudgie-troll-apple knockers below the bridge....

Thu, 02/28/2013 - 20:54 | 3288442 El Crusty
El Crusty's picture

i assume you've never been to Missouri?  our firearms laws are very relaxed compared to most other states. if its legal on the federal level its legal here. i hear more gunfire on the weekends here in a rural county than i ever did when i lived in st louis city.

Thu, 02/28/2013 - 17:53 | 3287766 flacon
flacon's picture

2015 - an Alien metal unknown to mankind (gold) will rescue the Fed. 

Thu, 02/28/2013 - 18:09 | 3287834 auric1234
auric1234's picture

Actually, the metal has the power to bring down the Fed into submission.

 

Thu, 02/28/2013 - 19:34 | 3288167 nmewn
nmewn's picture

Detroit-Embattled former Detroit mayor Kwame Kilpatrick has been begging his parole agent to take off his tether so he can go back to his Texas home.

He emailed the agent, "Please take this thing off!" But Kilpatrick has been denied several requests to go home.

That request also was denied.

On Feb. 19 he wrote, "PLEASE UNCHAIN ME." (Do I really need an editorial comment here?...lol)

That was denied, too.

In a Feb. 6 request, Kilpatrick wrote, "My sons are playing one of their remaining two varsity basketball games on Friday. I have only seen them play in one game this season. It would be amazing for them, as well as me, if I'm allowed to attend this activity. I humbly request to travel to my home. would return on Sunday evening ... "

Kilpatrick's wife and kids came to Detroit one day to hear his defense attorney argue for his freedom in the federal corruption trial. Afterwards, Kilpatrick sent his parole agent an email saying, "I HATE asking this question. It is absolutely against any notion of humanity and freedom that I have left within me, but I have been requested to ask you for this by my family. Again, I HATE it. I am requesting to take my family to the airport in the morning ... "

Again, that request was denied.

Kilpatrick is on a tether and forced to stay at his mother's Detroit home because he failed to disclose cash gifts to his parole agent. Those gifts include a $2,000 check from a Chicago pastor. Kilpatrick was caught on tape cashing the check at a Walmart.

The former mayor owes Detroit $850,000 in restitution. His most recent reports include additional cash gifts including $1,000 from former Supreme Court justice Conrad Mallett and $5,000 from his mother, former Congresswoman Carolyn Cheeks Kilpatrick.

http://www.clickondetroit.com/news/investigations/Kwame-Kilpatrick-denied-requests-to-go-to-Texas-while-he-remains-on-tether/-/1719314/19128412/-/11djiivz/-/index.html

Man I swear...ya just can't make this shit up...but the trains ran on time!!!...lol.

Fri, 03/01/2013 - 03:38 | 3289303 StychoKiller
StychoKiller's picture

"Embattled?"  Is that PC for "Incarcerated?"

Thu, 02/28/2013 - 17:10 | 3287584 Iconomissed
Iconomissed's picture

And if you like metal...

https://www.youtube.com/watch?v=TbR7q0GiZ_0

4Arm ~ Submission for Liberty

branded from the second you are born
welcome to a world where no one cares
they'll take your life
and in return, give you nothing
all through out your years of puberty
adolescent rage and misery
time to be shaped and formed
a bi-product of life

disciple of their cause and their beliefs
democracy has always been a dream
now be a good boy
step in line, your reward is coming
now desensitize humanity
marching to the sound of bigotry
you're just like them, its too late
what's done cannot be erased

you, think you can own me
but there's something you can't see
it's my finger saluting you and your country
and i don't care if i'm alone
i will never be a drone
and if you think you're free your blinded too

i hate this place
i hate your face
fuck you all

one way, your way, dead day
you've tried for years to bring me down
but you'll never have my life

you don't have anything i want
and if you think you did you're even more
pathetic than i thought
it makes me sick to even know your out there
all your splendor don't mean shit to me
but you would never understand because you live inside a box
with no way out
and a dragon in your mouth

you, think you can own me
but there's something you can't see
it's my finger saluting you and your country
and i don't care if i'm alone
i will never be a drone
and if you think you're free your blinded too
fuck you

Thu, 02/28/2013 - 17:06 | 3287569 Kirk2NCC1701
Kirk2NCC1701's picture

You do know that the re-branded "Nobel Prize in Economics" is actually the prize from the Swedish Central Bank, in memory of Alfred Nobel?  We should call it the "Sveriges Riksbank" award, just to annoy him with the truth.

http://www.riksbank.se/en/

http://www.nobelprize.org/nobel_prizes/economics/

Thu, 02/28/2013 - 16:10 | 3287243 TonyCoitus
TonyCoitus's picture

Channel 7 Action News! 

 

http://www.wxyz.com/

 

These stupid MoFo's in Detroit would re-elect Qwami Kilpatrick if the opportunity arose.  What a bunch of Fucktards!

Thu, 02/28/2013 - 16:16 | 3287273 ZaphodBeeblebrox
ZaphodBeeblebrox's picture

Who you calling a fucktard?!?  Hon Mayor Barry asking.

Thu, 02/28/2013 - 16:21 | 3287302 Temporalist
Temporalist's picture

Marion Barry?  That is DC.

Thu, 02/28/2013 - 16:47 | 3287450 ZaphodBeeblebrox
ZaphodBeeblebrox's picture

Yeah but I'm trying to get around the ad hominem of an entire group of citizenry and say if Kwame was reelected it would pale in comparison of WTF to reelection of a guy caught on video, way back, buying crack. 

Thu, 02/28/2013 - 16:55 | 3287499 pods
pods's picture

Bitch set me up!

 

Thu, 02/28/2013 - 17:52 | 3287757 blueRidgeBoy
blueRidgeBoy's picture

good memory, pods

Thu, 02/28/2013 - 18:06 | 3287823 Temporalist
Temporalist's picture

That is the best license plate I've seen in forever

Thu, 02/28/2013 - 19:20 | 3288101 The Gooch
The Gooch's picture

Once again, I'd like to personally thank the Tylers for their work.

The truth will set you free.

 

 

 

Thu, 02/28/2013 - 18:58 | 3288001 A Nanny Moose
A Nanny Moose's picture

Mayor Barry is a prime example of exactly who wins elections.

What better job for criminals than to work for an organization which has been granted the monopoly privilege on criminal behavior in a geographic region.

Thu, 02/28/2013 - 21:16 | 3288506 El Crusty
El Crusty's picture

that had to be one hell of a victory party when he won the first time.  when his dealer heard that Barry had been re-elected he got on the phone and placed an order for a brand new mercedes, special paint and interior color- cocaine white.

Thu, 02/28/2013 - 16:19 | 3287291 Divine Wind
Divine Wind's picture

 

 

Bet your ass they would. I grew up there, still have family in one of the Lilly White suburbs and the GibsMeDats just do not care. Detroit is, without a doubt, one of the most worthless, corrupt places in the U.S.. Avoid at all cost.

 

Still, it is a given Whitey will be blamed.

Thu, 02/28/2013 - 16:25 | 3287339 knukles
knukles's picture

Yes, whitey will be blamed for every failure in which another group has wrested control and failure blossomed.  Like Bush's fault, it's all whitey's fault.  And if you reject that notion, you're a racist.

Thu, 02/28/2013 - 17:59 | 3287792 francis_sawyer
francis_sawyer's picture

Absolutely positively correct...

~ Sincerely Yours, THE 'PROPAGANDIST' YIDS ~ The bakers & deli owners get a free pass on this...

Thu, 02/28/2013 - 17:11 | 3287591 Roy T
Roy T's picture

It is funny that you say that.  I caught a piece of the Melissa Harris Perry's worthless show this weekend, and, basically they were blaming Detriot's problems on the White Flight of the 60's and 70's.  Like those people were supposed to stay in that rathole of a city.  I really couldn't believe my ears, I guess I shouldn't have been surprised, but I was anyway.

 

Thu, 02/28/2013 - 17:20 | 3287624 Divine Wind
Divine Wind's picture

 

True Dat !

 

 

Thu, 02/28/2013 - 17:55 | 3287779 Hobbleknee
Hobbleknee's picture

So they tried to pander to blacks by saying a city turns to shit when the white people leave?  Interesting strategy.

Thu, 02/28/2013 - 19:38 | 3288181 DriveByLurker
DriveByLurker's picture

Did the Titanic sink because the First Class passengers left, or did the First Class passengers leave because the ship was clearly doomed to sink?

Thu, 02/28/2013 - 21:03 | 3288477 Diogenes
Diogenes's picture

Yeah... same way the people in the lifeboats sank the Titanic.

Thu, 02/28/2013 - 17:42 | 3287711 onthesquare
onthesquare's picture

When I was a kid they called Detroit "Murder City".  We would celebrate new years by seeing how long it took after mid-night for the first murder to be reported.  Thank God for the Detroit River.

Thu, 02/28/2013 - 16:16 | 3287278 Liquid Courage
Liquid Courage's picture

Jumping to confusions again, PK? Methodology be damned ... I see what I want to see.

Thu, 02/28/2013 - 16:18 | 3287290 fourchan
fourchan's picture

i live here in the hood of detroit surrounded by genetic mutants. detroit is finally bankrupt and

a financial manager will be defaulting on bond holders and cancelling contracts. this is the end of 40 years of

democratic black rule and corruption.

we are the first domino, this fate is coming to a town near you. as witney warned, i am warning you the system is bankrupt.

Thu, 02/28/2013 - 17:12 | 3287601 Divine Wind
Divine Wind's picture

 

 

FC,

Stay strong, brother.

You're brave.

Thu, 02/28/2013 - 16:36 | 3287404 earleflorida
Do NOT follow this link or you will be banned from the site!