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 Post subject: Illinois fist state bankrupt? I don't think so
PostPosted: Fri Jun 16, 2017 3:22 pm 
Holy Ghost

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http://www.cbsnews.com/news/could-illin ... ankruptcy/

I've been elected and appointed by USTrustees and judges as head of creditor committees and as a receiver too many times in my life to know a State can't declare BK at this time. If they could - it would destroy the muni-bond market (at a minimum) as we know it today.

But, this is exactly where liberal leadership is taking many great states and municipalities as we speak. It's called: "UN FUNDED LIABILITIES"! California and New York are right behind. It's simply a matter of uneducated elected officials, probably who could never be employed anywhere else, just continuing to hand out entitlements to the future just to get elected today and patronizing the very unions who encourage such mismanagement. Few, if any, have any clue about ever paying their bills in life.

Chicago's Cook County is about 40+% of the entire state's vote. With over 600
State pension programs, they have the lions share. Chicago is following Detroit down the path of liberal mismanagement and well on its way to taking down the entire state. While he can't get much done in that state, thank God they got a conservative governor fighting for management principals.

Got to love liberals in managing your tax dollars and your protection against murder in these cities of proud history!


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Fri Jun 16, 2017 4:42 pm 
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Quote:
fist state


There is no way anyone appointed you under the US Trustee program. You're not cogent.

- Doc

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Fri Jun 16, 2017 11:18 pm 
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Doctor CamNC4Me wrote:
Quote:
fist state

- Doc

bach probably shouldn't be watching 'those' videos while he's trying to type.


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Sat Jun 17, 2017 5:55 am 
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Kansas?

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Sat Jun 17, 2017 7:06 am 
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Makes me think back to when those raging liberals in Orange County California mismanaged their pension fund and had to declare bankruptcy. Orange County needed someone of Bach's caliber to put the kibosh on their rampant liberal mismanagement.

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Sat Jun 17, 2017 3:18 pm 
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moksha wrote:
Makes me think back to when those raging liberals in Orange County California mismanaged their pension fund and had to declare bankruptcy. Orange County needed someone of Bach's caliber to put the kibosh on their rampant liberal mismanagement.


Orange County, CA is still screwed. When it comes to pension debt, I don't know if "Republican" counties do better than "Democrat" ones, but in this case, OC still isn't a poster-child for conservative finances:

Quote:
[2014] • Orange County’s total unfunded liability was $5.4 billion – 1.7 times its annual budget. That breaks down to $5 billion for pensions, and $412 million for retiree health care; all told, it had 61 percent of what it needs to fulfill its promises.

http://www.ocregister.com/2014/05/13/re ... -promises/


Here's the list for all counties in CA:

http://www.pensiontracker.org/agencyLis ... showOnly=1

What the heck happened in Alpine county!?

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Sat Jun 17, 2017 7:56 pm 
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Bach wrote:
I've been elected and appointed by USTrustees and judges as head of creditor committees and as a receiver too many times in my life to know a State can't declare BK at this time.

How does a state declare Burger King?

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Sun Jun 18, 2017 9:48 am 
God

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cinepro:

Nice misdirection. Future spending is nearly always an unfunded mandate. Say you buy a car. You are promising to pay in the future for the car you don't have the money to pay for today. Face facts the world runs off of credit, the willingness and ability to pay for that hamburger today on Tuesday.


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Mon Jun 19, 2017 7:37 am 
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The CCC wrote:
...the willingness and ability to pay for that hamburger today on Tuesday.

A policy that is rightfully attributed to a character named "Wimpy".

It is important to note that "credit" is not what runs the world...credit is a simple tool to keep the flow of cash smooth because abrupt start/stop of cash flow is a less desirable economic situation for a company, but not necessarily for a business.
It is foolish for you to suggest that supply creates demand.

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Mon Jun 19, 2017 7:58 am 
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subgenius wrote:
The CCC wrote:
...the willingness and ability to pay for that hamburger today on Tuesday.

A policy that is rightfully attributed to a character named "Wimpy".

It is important to note that "credit" is not what runs the world...credit is a simple tool to keep the flow of cash smooth because abrupt start/stop of cash flow is a less desirable economic situation for a company, but not necessarily for a business.
It is foolish for you to suggest that supply creates demand.


Yes, it's almost as if the general population had an innate hunger for smartphones, Teslas, fidget spinners, and the Baconator. It's almost as if Hollywood doesn't understand creating content doesn't create a demand for it. It's almost as if builders don't understand that creating new and interesting living spaces and home designs creates a market response. It's almost as if creativity and ingenuity don't create new demands within an economy by inventing new ____ that people didn't know they wanted until it existed.

I swear watching subgenius post on the Internet it's like watching a ____ ing monkey fumble around with soccer ball.

- Doc

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Mon Jun 19, 2017 8:07 am 
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Doctor CamNC4Me wrote:
I swear watching subgenius post on the Internet it's like watching a ____ ing monkey fumble around with soccer ball.

- Doc


Try not to be so rude to monkeys (yes I know it is a chimp.. just go with it)

Image

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Mon Jun 19, 2017 9:39 am 
God

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subgenius wrote:
The CCC wrote:
...the willingness and ability to pay for that hamburger today on Tuesday.

A policy that is rightfully attributed to a character named "Wimpy".

It is important to note that "credit" is not what runs the world...credit is a simple tool to keep the flow of cash smooth because abrupt start/stop of cash flow is a less desirable economic situation for a company, but not necessarily for a business.
It is foolish for you to suggest that supply creates demand.


If Wimpy didn't pay on Tuesday how long do you think Popeye would have continued getting him hamburgers?

Take it up with Alexander Hamilton.
SEE https://en.wikipedia.org/wiki/Alexander_Hamilton


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Mon Jun 19, 2017 9:02 pm 
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The mess that is Illinois has not just been caused by liberals/Democrats. Governor Rauner has made things exponentially worse these past 3 years by refusing to pass a budget. Here is the Crain's editorial board unendorsing him in 2016 after endorsing him for governor in 2014:

http://www.chicagobusiness.com/article/ ... d-us-wrong

And most of the measures that made the pension system worse were supported by Republicans as well as Democrats.

I don't doubt that Illinois' fall started with blue leadership, but Republicans have mostly gone along with it.

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Tue Jun 20, 2017 2:20 pm 
Holy Ghost

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MsJack wrote:
The mess that is Illinois has not just been caused by liberals/Democrats. Governor Rauner has made things exponentially worse these past 3 years by refusing to pass a budget. Here is the Crain's editorial board unendorsing him in 2016 after endorsing him for governor in 2014:

http://www.chicagobusiness.com/article/ ... d-us-wrong

And most of the measures that made the pension system worse were supported by Republicans as well as Democrats.

I don't doubt that Illinois' fall started with blue leadership, but Republicans have mostly gone along with it.


Ms Jack:

Please. If you live there - you should know the history of the topic you respond to other than trying to find dated articles from add dependent, local and wind blowing journalists! Google is great if you never want to defend on your own metal. Story of this board!

Perhaps, out of your background, or lack thereof, I can appreciate that.

But the problem w Illinois is driven by the age old problems of takers and makers. This problem started decades ago and all roads lead to Madigan. Even Reuters recognized this a couple of months ago:

http://www.reuters.com/investigates/spe ... s-madigan/

He was appointed by the Chicago machine decades ago out of corruption and has been successful in holding onto power and running the state into BK! His stepdaughter is the sitting AG of the state. Both hard core liberals who have made great lives for their families out of the government teet. Between the two: "Ruin the economy and run the death toll due to crime to the max"!!!

I grew up there Ms Jack. But unlike you, I educated myself into the issues.

But then I have always been a maker.


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Tue Jun 20, 2017 2:26 pm 
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Bach wrote:
snip... add dependent... snip

They probably have to run all those "adds" to cover the "intellectual maintenance cap ex"

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Tue Jun 20, 2017 2:35 pm 
God

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Chicago isn't all of Illinois.


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Tue Jun 20, 2017 6:51 pm 
Holy Ghost

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The CCC wrote:
Chicago isn't all of Illinois.


When will those like you and Ms Jack begin to think?

Watch Rachel Maddow on MSNBC tonight and you'll start to see!!!


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Tue Jun 20, 2017 7:04 pm 
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The flag for the fist state is an empty Crisco can floating on a sea of cocoa butter.

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Wed Jun 21, 2017 7:29 am 
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Bach wrote:
Watch Rachel Maddow on MSNBC tonight and you'll start to see!!!


So, I went ahead and watched Maddow as per Bach's suggestion and this is what came up:

http://www.msnbc.com/rachel-maddow/watc ... 2462659701

Quote:
RICO lawsuit exposes Trump Russia ties on another front

Rachel Maddow looks at the checkered past of a Donald Trump business associate who may become a legal liability to Trump, and reports on the new access by the Senate Trump Russia investigation to FinCEN documents that will help them follow Trump's money.


Racketeer Influenced and Corrupt Organizations Act

https://en.wikipedia.org/wiki/Racketeer ... ations_Act

Thanks for the head's up you raging dumpster fire of a human being!

- Doc

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Last edited by Doctor CamNC4Me on Wed Jun 21, 2017 8:40 am, edited 1 time in total.

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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Wed Jun 21, 2017 8:17 am 
God

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Bach wrote:
The CCC wrote:
Chicago isn't all of Illinois.


When will those like you and Ms Jack begin to think?

Watch Rachel Maddow on MSNBC tonight and you'll start to see!!!


Here in this country we don't have city states. Maybe you need to watch Rachel to know that.


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 Post subject: Re: Illinois fist state bankrupt? I don't think so
PostPosted: Wed Jun 21, 2017 8:20 am 
God

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The CCC wrote:

Here in this country we don't have city states. Maybe you need to watch Rachel to know that.


True. LOL. Bach has his head so far up FOX News' ass that the only familiarity he has with Maddow is what he hears them babbling about her over there.


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