Detroit bankruptcy judge releases 150-page order
The 150-page order filed today by U.S. Bankruptcy Judge Steven Rhodes that details his legal reasoning for authorizing the City of Detroit’s bankruptcy filing provides guidance on rarely raised Chapter 9 issues.
Rhodes today (Dec. 5, 2013) issued the formal Order for Relief for the city to be a debtor under Chapter 9 of the bankruptcy code.
[…] Rhodes also reiterated his assertion that the city did not have to negotiate at all with creditors because fair talks were “impracticable.” Read more: .freep.com/article
They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting fucked by a system that threw them overboard 30 fuckin’ years ago. They don’t want that. You know what they want? They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it. And now they’re coming for your Social Security money. They want your fuckin’ retirement money. They want it back so they can give it to their criminal friends on Wall Street. And you know something? They’ll get it. They’ll get it all from you sooner or later ’cause they own this fuckin’ place. It’s a big club and you ain’t in it. You and I are not in the big club. …The table is tilted, folks. The game is rigged and nobody seems to notice. …And nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes every day, because the owners of this country know the truth. It’s called the American Dream, ’cause you have to be asleep to believe it.
Detroit Pension Haircuts Allowed Bankruptcy Judge Rules
Published on Dec 4, 2013 via Realist News