Jun 192013
50th Anniversary march in commemoration of the Great March to Freedom, Saturday, June 22, 9 am

Join the Moratorium NOW! Coalition contingent at the 50th Anniversary March in commemoration of the Great March to Freedom. Saturday, June 22, 9 am. March begins at Martin Luther King, Jr. Boulevard and Woodward and ends at Hart Plaza. Gather at the northwest corner of Woodward and Willis, 8 am. Help us get out the […]

 June 19, 2013  Posted by at 2:43 am Uncategorized Tagged with:  No Responses »
Jun 162013
Bank of America Lied to Homeowners and Rewarded Foreclosures, Former Employees Say

by Paul Kiel, ProPublica, June 14, 2013 Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part […]

 June 16, 2013  Posted by at 2:45 am Uncategorized Tagged with:  No Responses »
Jun 152013
Detroit creditors brace for haircuts, or worse, at meeting to avoid bankruptcy

By Bernie Woodall and Steve Neavling, June 114, 2013 DETROIT (Reuters) – Detroit’s creditors will begin to learn on Friday morning what they can recover without driving the financially troubled city into bankruptcy when the city’s emergency manager unveils his restructuring plan. Manager Kevyn Orr has dropped hints that creditors would fare better by compromising […]

Jun 152013

By Tim Reid, June 14, 2013 LOS ANGELES (Reuters) – The judge overseeing the bankruptcy of San Bernardino, California, on Thursday disqualified a law firm from representing a major bond insurer in the case, because she said some of its lawyers had “switched sides.” Federal Bankruptcy Judge Meredith Jury said the law firm of Winston […]

 June 15, 2013  Posted by at 3:26 am Uncategorized Tagged with: , ,  No Responses »
Jun 152013
Detroit defaults on some debt to avoid bankruptcy filing

By Bernie Woodall and Steve Neavling, June 14, 2013 DETROIT (Reuters) – Detroit defaulted on some debt on Friday and proposed most creditors receive just pennies on the dollar owed by the “insolvent” city in order to avoid the largest municipal bankruptcy filing in U.S. history. In a forceful opening salvo of negotiations with holders […]

 June 15, 2013  Posted by at 3:20 am Uncategorized No Responses »
Jun 152013

Many local governments across the U.S. face steep budget deficits as they struggle to pay off debts accumulated over a number of years. As a last resort, some have filed for bankruptcy. Governing is tracking the issue, and will update this page as more municipalities seek bankruptcy protection. Click here to see map (takes a […]

 June 15, 2013  Posted by at 2:52 am Uncategorized Tagged with: ,  No Responses »
Jun 152013

Reuters, Mon Jun 10, 2013 11:37am EDT June 10 (Reuters) – JPMorgan Chase and Co Inc and other power traders that benefited from a flaw in the California electricity market rules from 2009 through 2011 will need to reimburse $52 million in excess profits, U.S. regulators said last week. The ruling from the Federal Energy […]

 June 15, 2013  Posted by at 2:44 am Uncategorized Tagged with: ,  No Responses »
Jun 142013
Protesters demonstrate as EM Kevyn Orr meets with Detroit creditors

 By Tammy Stables Battaglia, Detroit Free Press, June 14, 2013 About a dozen people protested at Detroit Metro Airporttoday, where Detroit emergency manager Kevyn Orr met with creditors this morning. Orr arrived at about 8:20 a.m. for the 9 a.m. meeting, flanked by Michigan State Police officers. He said he hoped the day would unfold […]

 June 14, 2013  Posted by at 11:12 pm Uncategorized No Responses »