Off Topic: The Flood
This topic has moved here: Subject: What happens to a city that goes bankrupt?
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Subject: What happens to a city that goes bankrupt?

Really focusing on this thread for some reason

  • 12.09.2012 7:51 PM PDT

The Universe demands to be noticed, to be seen, and dutifully noted.

What use all those incredible firework dimensions if no eye fixes and reflects, no brain takes notes, no heart moves with passion at the display?

NASA answers the silent cry of the Cosmos for recognition.

NASA is the witness and we fellow witnesses to the endless deeps.

They negotiate a hearing with their creditors in which they have to outline a detailed plan to generate the income required to pay their debts - kind of what Greece is doing now.

  • 12.09.2012 7:53 PM PDT

"Banhammer" - Post anything on the Waypoint forums -50g
Never forget:
Porch Day
lolReach
Gen Petitt Day
Night of the Living Alts

Lol Rose is extremely butthurt tonight.

  • 12.09.2012 7:53 PM PDT
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Talk to the Soul | ~B.B. | Know Your Duardo |  | Hero | ISFJ | 77135 | 94371

"It's not who I am underneath, but what I do that defines me."

Ah, all better :)

  • 12.09.2012 8:06 PM PDT

What are these first person words you speak of?


Posted by: Duardo
Ah, all better :)


Thank you.

  • 12.09.2012 8:09 PM PDT

Bones of my enemies.

so many reported posts tonight..


wat

  • 12.09.2012 8:12 PM PDT

Studies show that men think about sex every 7 seconds. I do my best to eat hotdogs in under 6, just so things don't get weird.

Please allow me to introduce Myself
I'm a man of wealth and taste
I've been around for a long, long year
Stole many a man's soul and faith

OK, now that that's handled...

Like I said above, the city defaults on its debts. Its really the same thing that happens when a individual defaults and declares BK. The difference is that the city is typically so big that the vendors and employees are the ones who get screwed.

So, say you are an electrician working on a street light retrofit. You could be owed $10,000 for services rendered, only to find a letter saying a judge has OK'd the city to pay $5000, or even not at all.

This makes banks and vendors hesitant to deal with the city, and they would either put a higher interest rate for the risk, demand payment up front, or even deny the services all together. The city still needs stuff done, so this makes the politicians lives waaay more difficult.

So you end up with potholes, dead street lights, too few working cop cars etc...

  • 12.09.2012 8:19 PM PDT

"There's this theory that if there were an infinite number of monkeys pecking away at typewriters, they would eventually write the great works of Shakespeare, but thanks to the internet we now know that's not true." -Adam Savage

"Time is not made out of lines. It is made out of circles. That is why clocks are round." -Caboose

NOTE: This is my new primary account. My old account was AgentCOPP1, and I changed it because it was linked to a gamertag that I no longer use.

I'm sorry if anyone lives there, but Detroit has got to be one of the worst cities in the USA.

  • 12.09.2012 8:20 PM PDT

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