My solution to the Mess in Detroit

I've figured out a way everyone could benefit from the mismanagement of Detroit, all the creditors can be paid, the pensions remain intact, and the US taxpayers make a small profit.
The city of Detroit could issue 20 billion in 0.05% bonds. The rate is so pathetically small, and the assets so slim, no investment house could possibly justify buying them. But, the Federal Reserve could do so. Detroit would take the money, fully fund their pensions, pay their creditors, and have zero debt except to the Feds. The Feds could give them 3 years to make their first payment, interest only after that for 50 years. The Federal Reserve could book a million dollar per year profit on the interest only payments, and the city of Detroit could pay it back 50 years from now after inflation eats away 95% of the value of the bonds, but no paper loss to the Federal Reserve since they don't have to mark the bonds to market value, and receive their capital back.

buuuuuuuuuuuurp

buuuuuuuuuuuurp Originally Posted by CJ7

too complicated for a simpleton like you, eh?

too complicated for a simpleton like you, eh? Originally Posted by Jewish Lawyer

reading your tripe gave me gas

reading your tripe gave me gas Originally Posted by CJ7

can't refute the brilliance of it , can you?

can't refute the brilliance of it , can you? Originally Posted by Jewish Lawyer

I completely understand your post. do you?

trim all the math out of it, and it boils down to the Federal government bailing out Detroit ... for the first three years taxpayers foot the bill, and continue to do so until the debt is paid. ...

As lowlife and liberal as you think Detroit is what exactly leads you to believe they will OR can pay back anything??

brilliance? ... hardly.

sounds like a plan Jessie Jackson came up with.

.My solution to the Mess in Detroit Originally Posted by Jewish Lawyer

Don't worry about Detroit, it is now time for you to direct your attention to the Mess In Tel Aviv!

Don't let the door hit you in the ass on your way out!

Don't worry about Detroit, it is now time for you to direct your attention to the Mess In Tel Aviv!

Don't let the door hit you in the ass on your way out! Originally Posted by bigtex

Or as Assup said, "Don't let the doorknob shit you where the good lord split you?"

I completely understand your post. do you?

trim all the math out of it, and it boils down to the Federal government bailing out Detroit ... for the first three years taxpayers foot the bill, and continue to do so until the debt is paid. ...

As lowlife and liberal as you think Detroit is what exactly leads you to believe they will OR can pay back anything??

brilliance? ... hardly.

sounds like a plan Jessie Jackson came up with. Originally Posted by CJ7

The taxpayers foot no bill, the Federal Reserve buys the bonds, carries the asset on the books with a million profit per year, gets their capital back 50 years later. Foreigners dumb enough to accept our currency pay for it in dilution of a dollar's value. We give them increasingly worthless paper, they give us cars, oil, etc.

We give them increasingly worthless paper, they give us cars, oil, etc.


told you it sounded like a Jessie Jackson deal

Well Iam sure we would all agree Detroit is certainly in peril in every way. I don't know if JL's recommendations is a sound one or not. What I do know is in order for Detroit to make a comeback and prosper as it once did something miraculous will have to take place, or they can leave Detroit in the condition it's in now and just rename it Detritus.

My solution: send them to Gaza.

We give them increasingly worthless paper, they give us cars, oil, etc.


told you it sounded like a Jessie Jackson deal Originally Posted by CJ7

Well, not completely. Jesse would get a cut of the action in any deal he makes. My proposal, I won't benefit in any way.

I am almost to the point of bulldozing most of the city and starting over. The idea of the future; the mini city! Let the Japanese lead us to the promised land........better yet, just turn the city over to the Japanese or the Palestians (and build a wall around it)