bankruptcy

Michigan Short-Changed Detroit By Millions
Instead of sharing sales tax revenue properly, Michigan kept millions intended for Detroit, effectively bankrupting the city. Read more...
Bronx Train Crash: Train Driver Fell Asleep
The crash on New York's Hudson line killed four and injured 67 people. Read more...
JP Morgan Settlement May Be Closer To $9 Billion After Tax Deductions
After all of that wailing about how unfair this $13 billion settlement is for poor downtrodden JP Morgan Chase, we find out it's likely to be a whole lot lower. Read more...
The foreclosure crisis hit Chicago hard. It left in its wake 62,000 vacant properties in the city and more than 100,000 people living on the streets. Read more...
Taibbi says, "Pension funds are one of the last great, unguarded piles of money in this country and there are going to be all sort of operators that are trying to get their hands on that money." Read more...

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Fox Pundits Push For Fire Sale To 'Fix' Detroit's Financial Problems
The Fox pundits on Cashin' In this Saturday think they have the solution to Detroit's problems. Liquidate the pensions of those pesky union "parasites" and privatize the entire city. Read more...
George Will Links Detroit Bankruptcy To 'Cultural' Problems And 'Unmarried Mothers'
Conservative columnist George Will on Sunday suggested that "unmarried mothers" had a hand in pushing the city of Detroit into the largest municipal bankruptcy in U.S. history. Read more...
Hannity Continues To Conflate City Of Detroit With Automakers For Fox
If there's one thing you can count on from our right-wing media out there, it's that they've got their talking points and they're all going to repeat them over and over ad nauseum. Here's one of the latest, which I'm sure we'll be hearing for weeks and months to come -- President Obama let Detroit go bankrupt. Never mind that he was talking about the auto industry and not the city itself. Read more...
Hostess joins Enron and Bain in the list of companies who will be remembered for preying on and stealing from American workers. Read more...
Former Enron CEO Jeffrey Skilling, currently serving time for his role in one of the most famous financial scandals in recent history, caught a major break today. A federal judge reduced his sentence from 24 years down to 14. Read more...