Pennsylvania state capital declares bankruptcy - GoFuckYourself.com

porno jew · 10-12-2011, 08:31 PM

The city -- whose finances have been ravaged by the costs of upgrading a once-mothballed trash incinerator -- filed late Tuesday to seek protection from creditors. The city reportedly owes around $310 million.

Some economists had warned of a looming spate of municipal bankruptcies this year as tax and property revenues fell with the economic downturn and the federal government's $787 billion stimulus package faded.

In the end Harrisburg's efforts to avoid being the first in that chain of dominos appears to have been hampered by politics as much as debt levels.

http://www.google.com/hostednews/afp...a5ec101a16.1d1

adapt or die.

L-Pink · 10-12-2011, 08:37 PM

What happens to bonds issued by a city that declares bankruptcy?

.

porno jew · 10-12-2011, 08:38 PM

who knows. this is new territory.

seeric · 10-12-2011, 08:42 PM

There will be more. Sacrmento is probably next.

porno jew · 10-12-2011, 08:43 PM

trash incinerator fail.

Failed · 10-12-2011, 08:51 PM

Thank god I don't live in Penn...wait...shit.

garce · 10-12-2011, 08:55 PM

Harrisburg goes bankrupt over $310 million? Is there twelve people living in this "city"?

Nope, read your link - 50,000 people. Oh, well. I'm sure that the very same politicians that created the problem will solve it; with the help of useless lawyers who'll bill the city for hundreds of thousands of dollars it doesn't have.

My dog could run any city on the face of the earth better than any living politician can. Fuck them all!

Not dogs! I mean politicians and lawyers.

L-Pink · 10-12-2011, 08:55 PM

It took 32 years but Harrisburg finally melted.

.

Failed · 10-12-2011, 08:58 PM

Quote:

Originally Posted by L-Pink

It took 32 years but Harrisburg finally melted.

.

I wonder if anyone outside of the state knows what you're talking about.

pornmasta · 10-12-2011, 09:03 PM

france

http://en.wikipedia.org/wiki/Three_Mile_Island_accident

Failed · 10-12-2011, 09:05 PM

Quote:

Originally Posted by pornmasta

france

http://en.wikipedia.org/wiki/Three_Mile_Island_accident

Adult webmasters are some smart people

the French

epitome · 10-12-2011, 09:06 PM

Quote:

Originally Posted by Failed

I wonder if anyone outside of the state knows what you're talking about.

I did but only because I grew up in the tiny state to the south.

raymor · 10-12-2011, 09:40 PM

Quote:

Originally Posted by garce

Harrisburg goes bankrupt over $310 million? Is there twelve people living in this "city"?

Nope, read your link - 50,000

So that's $6,200 per person? For comparison, in the last two years the feds have added about $20,000 per person in new debt. That's added to the $25,000 built up from 1776 to 2009.

amateurcanada · 10-12-2011, 09:47 PM

oh well

96ukssob · 10-12-2011, 09:59 PM

awesome

they are going after EVERYONE who owes any sort of back taxes (made a post about my wife's issue and she owes $41). Its NOT the incinerator, its the retarded ass mayor Thompson who did this

Reed was in office until 2010, partially to blame for this incinerator mess, but Thompson, a recovered drug addict and arrested for prostitution in her early days (shes all grown up, so its ok now) totally fucked everything.

City spends way to much money on bullshit but blames everything else. could of easily be turned around, but nope.

At my house (I live in the county and have a Harrisburg address) I pay $7,200 in property tax. 5 miles down the road, similar house is $4,400...

porno jew · 10-12-2011, 10:02 PM

ok i was reading it's illegal for them to go bankrupt so what now?

DWB · 10-12-2011, 10:17 PM

The first of many.

Sarah_Jayne · 10-12-2011, 11:34 PM

I love PA but Harrisburg feels like hell on earth.

P.s. PA is a commonwealth not a State ;)

10-12-2011, 08:31 PM	#1
porno jew Too lazy to set a custom title Industry Role: Join Date: Nov 2006 Posts: 10,166	Pennsylvania state capital declares bankruptcy The city -- whose finances have been ravaged by the costs of upgrading a once-mothballed trash incinerator -- filed late Tuesday to seek protection from creditors. The city reportedly owes around $310 million. Some economists had warned of a looming spate of municipal bankruptcies this year as tax and property revenues fell with the economic downturn and the federal government's $787 billion stimulus package faded. In the end Harrisburg's efforts to avoid being the first in that chain of dominos appears to have been hampered by politics as much as debt levels. http://www.google.com/hostednews/afp...a5ec101a16.1d1 adapt or die.

10-12-2011, 09:47 PM	#14
amateurcanada Confirmed User Industry Role: Join Date: Jul 2001 Posts: 3,766	oh well __________________ be our partner - join nichepartners today will.assum.producer @ AmateurCanada.com / icq: 30146166 / facebook.com/will.assum / #amateurcanada

10-12-2011, 09:59 PM	#15
96ukssob So Fucking Banananananas Industry Role: Join Date: Mar 2003 Location: If I was in your ass you'd know it Posts: 12,991	awesome they are going after EVERYONE who owes any sort of back taxes (made a post about my wife's issue and she owes $41). Its NOT the incinerator, its the retarded ass mayor Thompson who did this Reed was in office until 2010, partially to blame for this incinerator mess, but Thompson, a recovered drug addict and arrested for prostitution in her early days (shes all grown up, so its ok now) totally fucked everything. City spends way to much money on bullshit but blames everything else. could of easily be turned around, but nope. At my house (I live in the county and have a Harrisburg address) I pay $7,200 in property tax. 5 miles down the road, similar house is $4,400... __________________ Email: Clicky on Me

10-12-2011, 08:37 PM	#2
L-Pink working on my tan Industry Role: Join Date: Mar 2005 Location: Florida/Kentucky Posts: 39,152	What happens to bonds issued by a city that declares bankruptcy? .

10-12-2011, 08:38 PM	#3
porno jew Too lazy to set a custom title Industry Role: Join Date: Nov 2006 Posts: 10,166	who knows. this is new territory.

10-12-2011, 08:42 PM	#4
seeric .......... Industry Role: Join Date: Aug 2004 Location: .......... Posts: 41,917	There will be more. Sacrmento is probably next.

10-12-2011, 08:43 PM	#5
porno jew Too lazy to set a custom title Industry Role: Join Date: Nov 2006 Posts: 10,166	trash incinerator fail.

10-12-2011, 08:51 PM	#6
Failed Confirmed User Industry Role: Join Date: Mar 2011 Posts: 2,301	Thank god I don't live in Penn...wait...shit.

10-12-2011, 08:55 PM	#7
garce Confirmed User Industry Role: Join Date: Oct 2001 Location: Toronto Posts: 7,103	Harrisburg goes bankrupt over $310 million? Is there twelve people living in this "city"? Nope, read your link - 50,000 people. Oh, well. I'm sure that the very same politicians that created the problem will solve it; with the help of useless lawyers who'll bill the city for hundreds of thousands of dollars it doesn't have. My dog could run any city on the face of the earth better than any living politician can. Fuck them all! Not dogs! I mean politicians and lawyers.

10-12-2011, 09:03 PM	#10
pornmasta Too lazy to set a custom title Join Date: Jun 2006 Posts: 18,953	france http://en.wikipedia.org/wiki/Three_Mile_Island_accident

10-12-2011, 10:02 PM	#16
porno jew Too lazy to set a custom title Industry Role: Join Date: Nov 2006 Posts: 10,166	ok i was reading it's illegal for them to go bankrupt so what now?

10-12-2011, 10:17 PM	#17
DWB Registered User Industry Role: Join Date: Jul 2003 Location: Encrypted. Access denied. Posts: 31,779	The first of many.

10-12-2011, 11:34 PM	#18
Sarah_Jayne Now with more Jayne Industry Role: Join Date: Dec 2002 Location: Los Angeles Posts: 40,077	I love PA but Harrisburg feels like hell on earth. P.s. PA is a commonwealth not a State ;)