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Tuesday, December 3, 2013

FFT 12/3: Day of Reckoning: Gov. Rick Snyder Success in Detroit Bankruptcy Ruling Provides Municipalities a Roadmap

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By Head Writer - Monica RW
Independent Underground News & Talk

Today's Food for Thought:

"The Pain CANNOT be spared anymore folks. Michigan Governor Rick Snyder's promised 'Day of Reckoning' has come."

Judge Steven Rhodes from what's known so far about is ruling, has only left the door open for one appealable issue. How the State and Governor Snyder pushed Detroit into Bankruptcy Court by contrived actions during early 2013.

Now, the only problem with this Judge Rhodes stated the State negotiated with Emergency Manager Kevyn Orr's assistance, in Good Faith. The 'Good Faith Test' of a Chapter 9, Title 11 Bankruptcy has been met and exceeded, according to Judge Steven Rhodes ruling. Michigan Constitution and State's Rights has been superseded by the decision handed down in a U.S. Federal Court of Bankruptcy.

Next, can pensioners appeal? Sure but where too? 

The 6th Circuit Court of Appeals. Yes, but its a known fact that President Obama has yet to fill vacancies on that Court. Also, even IF the ruling was appealed all Judges know each other on the Federal Level. It's doubtful that Judge Rhodes ruling will be overturned in the Pensioners favor.

The U.S. Supreme Court is stacked 5-4 at best AGAINST the Pensioners. Congress is corrupt. U.S. Appeals and U.S. Supreme Court has brought into the scheme, as evident by Judge Rhodes ruling SUPERSEDING STATES RIGHTS and the Michigan Constitution.

So, the pensions will be cut. The question is by how much. My estimation at this time is 70/30. A 70% cut will 30% of the monthly annuity left. 

Next up --- the State of Michigan retirees pension fund which is at an estimated 50% OR BELOW level. City, Village and Counties Municipal pension funds will be brought into a Federal Bankruptcy Court of LAW to be cut. Social Security will be CUT by 2017 with a new Republican President -- Rick Snyder.

This decision set Legal Precedent. EVERYTHING IS ON THE TABLE.

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