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Friday, July 19, 2013

OMG! Detroit bankruptcy does not honor Obama

No, that not Judge Judy. That is County Circuit Judge Rosemary Aquilina who attempted to halt Detroit's bankruptcy proceeding on the grounds it violated Michigan's constitution and that it does not honor Obama. How's that for judicial temperament?
“It’s cheating, sir, and it’s cheating good people who work,” the judge told assistant state Attorney General Brian Devlin. “It’s also not honoring the (United States) president, who took (Detroit’s auto companies) out of bankruptcy.”
Okay, Your Honor, if full faith and credit bonds are subordinated to union pension funds in bankruptcy who is going to buy future bond issues? Also. Inasmuch as Detroit has spent $100 million more than it took in every year since 2008 where will it get the money to meet next week's payroll if your order is not overturned? Borrow it? From whom? More.

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