Snyder is gaming the unions. He's stacking the odds against them.
The Republicans have no loyalty to the citizens. I would expect a Governor to take the position of advocating for the pensioners and insure a reasonable settlement to support their retirements and pensions. But, the Republicans never treat people like people. Vulnerable. It is evident in the way they cut food stamps and other services. I really think they hate people. They prefer war over diplomacy or peace. Their ideas for this country are unworkable. Those ideas are all human rights violations and now Snyder wants to cast pensioners into poverty. Great guy, huh?
The Republican Motto, "Let's stick it to 'em."
...The "cram down" provision of federal bankruptcy law (click here) allows a judge to approve a plan of restructuring over the objections of creditors, so long as at least one impaired class of creditors votes to confirm it.
"We hope to reach a negotiated solution even now," Orr said as he took the witness stand on the fifth day of a trial to determine whether Detroit is eligible for Chapter 9 municipal bankruptcy. "If we don't, we will address that situation, and certainly 'cram down' is an opportunity available to us." ...
..."I don't recall asking for assistance in that form," Orr said. (click here)
That prompted U.S. Bankruptcy Judge Steven Rhodes to challenge Orr.
"I know there was a dialogue (with the governor), and it became clear there would be no assistance from the state," Orr said.
Orr's testimony drove home what has been crystal clear in Detroit's bankruptcy case: Neither Michigan nor the federal government will give money to help Detroit restructure its debt.
In questioning Tuesday, it became equally clear that Orr recognized that reality early in his tenure as Detroit's emergency manager.
Lawyers for creditors, who are challenging Detroit's eligibility for bankruptcy protection from creditors, attempted to gather evidence that will prove that the city did not exhaust all possible options before it became the largest city to file for Chapter 9 bankruptcy July 18....
The Republicans have no loyalty to the citizens. I would expect a Governor to take the position of advocating for the pensioners and insure a reasonable settlement to support their retirements and pensions. But, the Republicans never treat people like people. Vulnerable. It is evident in the way they cut food stamps and other services. I really think they hate people. They prefer war over diplomacy or peace. Their ideas for this country are unworkable. Those ideas are all human rights violations and now Snyder wants to cast pensioners into poverty. Great guy, huh?
The Republican Motto, "Let's stick it to 'em."
Oct. 29, 2013 at 5:12 PM ET
...The "cram down" provision of federal bankruptcy law (click here) allows a judge to approve a plan of restructuring over the objections of creditors, so long as at least one impaired class of creditors votes to confirm it.
"We hope to reach a negotiated solution even now," Orr said as he took the witness stand on the fifth day of a trial to determine whether Detroit is eligible for Chapter 9 municipal bankruptcy. "If we don't, we will address that situation, and certainly 'cram down' is an opportunity available to us." ......"I don't recall asking for assistance in that form," Orr said. (click here)
That prompted U.S. Bankruptcy Judge Steven Rhodes to challenge Orr.
"I know there was a dialogue (with the governor), and it became clear there would be no assistance from the state," Orr said.
Orr's testimony drove home what has been crystal clear in Detroit's bankruptcy case: Neither Michigan nor the federal government will give money to help Detroit restructure its debt.
In questioning Tuesday, it became equally clear that Orr recognized that reality early in his tenure as Detroit's emergency manager.
Lawyers for creditors, who are challenging Detroit's eligibility for bankruptcy protection from creditors, attempted to gather evidence that will prove that the city did not exhaust all possible options before it became the largest city to file for Chapter 9 bankruptcy July 18....
