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Tag: "bankruptcy"

City of Detroit declares bankruptcy

City of Detroit declares bankruptcy

The City of Detroit is bankrupt. Conservatives have been pointing out the problem with municipalities of all sizes continuing to spend beyond their means, and now Detroit has become the largest city to date to officially apply for Chapter 9 bankruptcy protections in Federal Court. As reported in the Wall Street Journal: The Chapter 9 […]

Armor-Clad CA Mayor Seeks Support

Armor-Clad CA Mayor Seeks Support

Stockton, the small resort city South of Sacramento, California sought bankruptcy protection from its obligations last summer. The bankruptcy filing by Stockton, more than 290,000 residents, has been closely watched by both bond insurers who guaranteed the city’s debt and CalPERS, the state pension fund for public workers. Retiree health care, financed by most California […]

It Can Happen Here

It Can Happen Here

For years now, the Euro zone has been experiencing difficulty absorbing the costs of bailing out relatively small countries with relatively small economies that have relatively small amounts of debt. Most recently, Euro zone leaders agreed to fund a bailout of Cyprus with a deal that includes taxing private bank deposits.  The deal to fund […]

Can Obama Pick 'em, Or What?

Can Obama Pick ‘em, Or What?

Can President Barack Hussein “kill list” Obama pick winners, or what? But it really does not matter to him since he is using taxpayer money to invest in companies. There is a myriad of topics about which to write about his picking prowess, so I will limit myself, in the interest of the typical liberal […]

Stockton, California as an Example of a Flourishing City

Stockton, California as an Example of a Flourishing City

Stockton, CA – This city may be the first in California to declare bankruptcy. The city, in spite of cutting police, fire, and anything else it could think of, is still running in the red, and cannot make its bills. Why? Pensions and benefits for retirees have literally taken over the budget to the point […]

Can This City Be Saved?

What happens when a city spends more than it takes in? Caught up in the boom times of the Silicon Valley, this city bought land and buildings beyond what it could afford, expecting that value would continue to rise. Today it is defaulting on bond repayments causing banks to seize property and laying off public […]

American Airlines' Parent Company Files Bankruptcy

This just in from CBS.com: (CBS/AP) DALLAS – American Airlines’ parent company, AMR, filed for Chapter 11 bankruptcy this morning. American lost $868 million during the first nine months of this year, and was the only major U.S. airline to lose money last year. AMR Corp. and AMR Eagle Holding Corp. says they filed voluntary […]

RNC: “Give It To Me”

On Thursday, the Republican National Committee published a news release and video detailing Obama’s willingness to take responsibility for the economic situation in America and the results. Obama: “My administration has a job to do as well. That job is to get this economy back on its feet. That’s my job, and it’s a job […]