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  1. #1

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    Quote Originally Posted by Detroitnerd View Post
    Bankruptcy would be a chance to offer the bondholders the haircut they'd have been immune to under PA4. This way, it's fairer. I think Snyder went before the bondholders last year and said something like, "Don't worry about your investments." Now they may have to share the pain.

    And, frankly, the rhetoric over PA4 sounded pretty fair in the beginning. Then you look at the way PA4 was being applied: Only to majority-minority communities. Other places that were in trouble got loans or help from Lansing. Now, the emergency manager law may have been one thing in theory, but when it is applied in a racist manner, maybe it's time to go back to the drawing board.
    1) Allen Park

    2) Maybe majority-minority communities have a problem. I only know Detroit -- and I sure they we do.

  2. #2

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    Quote Originally Posted by Wesley Mouch View Post
    1) Allen Park

    2) Maybe majority-minority communities have a problem. I only know Detroit -- and I sure they we do.
    Yes, it's true: 95 percent white Allen Park was to get an EM. But they held off and hoped for the best on a millage vote, which was defeated last week. We'll see what happens.

    The main point is that places like Flint, Benton Harbor and Pontiac got EMs appointed right away. In the case of BH, it was sneaky, as they appointed an EFM and then upgraded to EM with the passage of the EM law.

    But when places in 97 percent white Livingston County are faced with problems, Lansing's cavalry runs to the rescue. Which strikes me as a double standard.

    Yes, economic forces have ravaged places like Flint, Pontiac, Benton Harbor and Detroit. But laws that protect bond holders and allow undemocratically elected officials to go after unions and civic assets were judged by Michiganders to be an answer worth rejecting.

    Let's be fair. Bring in all the parties and come to a solution where the pain is shared and the people retain a voice.

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