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View Full Version : U.S. Treasury secretary emphasizes no federal bailout for bankrupt Detroit


Voted4Reagan
07-29-2013, 08:35 AM
The Obama administration Sunday defended its decision to offer no federal bailout to Detroit as the city grapples with the largest municipal bankruptcy in U.S. history.Treasury Secretary Jack Lew also made a distinction between the federal bailouts for Detroit’s auto industry and bank corporations saying those were unique situations designed to prevent widespread collapse. Lew said the city of Detroit will have to work on its own financial issues.


From The Detroit News: http://www.detroitnews.com/article/20130728/METRO01/307280028#ixzz2aRNzFUm1
Voted4Reagan
07-29-2013, 08:37 AM
Finally... The Obama Administration is making Detroit responsible for their financial mess.

If he sticks to this promise I will be the first to say..WELL DONE MR.PRESIDENT!
Tyr-Ziu Saxnot
07-29-2013, 08:52 AM
Finally... The Obama Administration is making Detroit responsible for their financial mess.

If he sticks to this promise I will be the first to say..WELL DONE MR.PRESIDENT!
Just let his base , leftists and other lib dumbasses start screaming to bail Detroit out and watch Obama flip like a pancake on a grille. Here is another thing, Congress supposedly has the "purse" yet Obama just ignores that and does what he wants. And nobody seems to notice that him doing that is illegal...-Tyr
Perianne
07-29-2013, 10:33 AM
He doesn't need to bail them out. They already all vote for Democrats anyway. Nothing to gain from bailing them out.
Nukeman
07-29-2013, 12:20 PM
maybe they should take the same stance with California as a whole....
Missileman
07-29-2013, 01:22 PM
The Obama administration Sunday defended its decision to offer no federal bailout to Detroit as the city grapples with the largest municipal bankruptcy in U.S. history.Treasury Secretary Jack Lew also made a distinction between the federal bailouts for Detroit’s auto industry and bank corporations saying those were unique situations designed to prevent widespread collapse. Lew said the city of Detroit will have to work on its own financial issues.


From The Detroit News: http://www.detroitnews.com/article/20130728/METRO01/307280028#ixzz2aRNzFUm1



The dumbasses shouldn't have waited until AFTER the re-election to seek bankruptcy, although I am glad they did.

And sorry, Detroit...Obama needs that money to bribe the passage of the illegal alien amnesty bill.