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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

    It Has To Be Painful


    By JGillman, Section News
    Posted on Fri May 24, 2013 at 08:34:54 AM EST
    Tags: Michigan, DIA, Detroit, Bankruptcy, What Do You Expect?, Treasures, Responsibility, Assets (all tags)

    Or else no one learns a damned thing.

    Detroit's assets and connected operations are ALL potential targets of a chapter 9 bankruptcy. Wheter its the electric service or an island, OR a publicly financed display of polished feces on a marble stand. The Detroit News reports of Kevyn Orr's warning to Detroit Administration that nothing is 'off the table':

    " The city's new emergency manager has told the Detroit Institute of Arts it may "face exposure to creditors" if the city is forced to seek bankruptcy protection, a spokesman said Thursday night.

    "This is a precautionary measure," said Bill Nowling, spokesman for Kevyn Orr, the city's emergency manager.

    Nowling said while there is "no plan on the table to sell any asset of the city ... it is possible that the city's creditors could demand the city use its assets to settle its debts."

    And why wouldn't they?

    All of the warnings of financial collapse to the Detroit administration and city council have fallen on deaf ears for decades. For those same decades, the answer has been to personally raid the city piggy bank, allow infrastructure to fail, and the voters have rewarded that decision making with reelection and support; reinforcing bad decision making.

    Clearly its time to cut the city loose to its destined end.

    A little hard love could go a long way.

    < Bill Schuette Calls For Special Prosecutor For IRS Investigation | Taxed Enough Already >


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    Display: Sort:
    H/T (none / 0) (#1)
    by JGillman on Fri May 24, 2013 at 08:35:29 AM EST
    for this to CS

    I reckon that L. Brooks Patterson, ... (none / 0) (#2)
    by Corinthian Scales on Fri May 24, 2013 at 09:38:26 AM EST
    ...Randy Richardville, [Robert Ficano], Macomb County Chairwoman Kathy D. Vosburg, along with a gaggle of other amalgamated "public servants" have some explaining to do to their constituency that they fleeced to prop up the banksters, which by the way, Democrat Kevyn Orr, is in bed with them. (yes, it was noted)

    Yep-yep-yepiedoo.

    For a public trust, the DIA paid their executive board members extremely well. Much better than other "world class" art museums.

    He even pointed out the damning fact that in other cities, like Toledo's Art Museum, don't even rely on taxpayer money.

    Then, Rep. Tom McMillin went through the DIA's financials.

    The DIA is nowhere near as broke as they claimed to be.

    $175-million in endowment funds.

    $182-million in assets.

    Raising $50-million in just the last two years alone.

    Topping things off, The Michigan View's art critic Bruce Walker, beat DIA Director Graham Beal like a government mule during numerous interviews on the DIA tax.

    Having the DIA's own director calling a critic a flat-out liar without providing one shred of evidence to back up that assertion didn't help matters much either.

    The wheels were starting to come off of the DIA tax express.

    But, they still had one Ace-in-the-Hole left.

    They still controlled the media.

    Wah-wah-waaaaah

    Hey!  Thanks for playing along, Metro Detoilet...

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