Detroit requests bankruptcy protection
 

Its official. The largest city to ever file. Sad day.

Why is just today a sad day when this was forthcoming? I don't think the city had any other choice other than continue to bleed. I do realize that pensions will be impacted and that is SAD. That money should have been protected like our social security.:rolleyes:

Obama would have bailed you out if you didn't badmouth him so much. :D

Sad, because it didn't have to come to this. Sad, because the implications of this will be felt for a long time, not just in the city, but nationally. Sad, because of the pensioners who will be among those who will take a haircut, and all they did was show up for work. Sad, because the city has no significant income, no pathway to recovery, and the bankruptcy will make it extremely difficult for years to come to raise any significant capital.

The very moment Ronald Reagan became President, it was going to come to this. Clinton and Obama only managed to hold on while bailing water under his original sinking ship policies.

No matter that Detroit's decline started years before Reagan became president. But way to go, Zeke, for clinging to your tired talk track no matter what the facts might be. :rolleyes:

History shows that the fix for a rust belt city going bust is a good Republican.

Pete

Odd.

I seem to recall Lee Iacocca rejuvenating Detroit -- with both Ford and Chrysler -- just prior to Reaganomics...

If by "fix" you mean belly up.

From the comments I've seen about Reagan tonite, I think he might have stolen your position as No. 1 whipping boy.

As for who destroyed Detroit, I think the City of Detroit deserves a certain amount of credit.

Chas

You're in need of a history lesson. Yes, he had a positive impact on the fortunes of Chrysler, giving us the K Car and the Minivan, and the Mustang with Ford. Detroit's decline was well under way before Iacocca showed up. Even the modest, short term rising tides of Chrysler couldn't compete with that.