Jul 262013
 
 Detroit bankruptcy: WAR ON PENSIONS!

By Jerry Goldberg, Workers World newspaper, July 24, 2013 City of Detroit Emergency Manager Kevyn Orr, the figurehead named by reactionary Michigan Gov. Rick Snyder to run Detroit and usurp its elected political officials, filed a Chapter 9 bankruptcy on July 18, the largest municipal bankruptcy filing in U.S. history. Orr claims that the city […]

Jul 222013
 
Detroit Gap Reveals Industry Dispute on Pension Math

By Mary Williams Walsh, July 19, 2013 Until mid-June, there was one ray of hope in Detroit’s gathering storm: For all the city’s problems, its pension fund was in pretty good shape. If the city went under, its thousands of retired clerks, police officers, bus drivers and other workers would still be safe. Then came […]

 July 22, 2013  Posted by at 12:55 am Uncategorized Tagged with: ,  No Responses »
Jul 202013
 
 Detroit: People battle bank takeover

By Abayomi Azikiwe, Workers World newspaper, July 18, 2013 Hundreds of members of the American Federation of State, County and Municipal Employees gathered on July 12 in Hart Plaza on the banks of the Detroit River. A series of speakers decried the relentless attacks being waged on city workers in Detroit and across the country […]

 July 20, 2013  Posted by at 8:28 pm Uncategorized Tagged with: , , ,  No Responses »
Jul 052013
 
Voice of Detroit requests investigation by US Dept. of Justice, no response yet

Sign Petition to Request US Dept. of Justice Fraud Investigation Of UBS Re: Predatory $1.5 Billion Detroit Loan By Diane Bukowski, Voice of Detroit July 3, 2013 UBS CEO Sergio Ermatti Voice of Detroit has submitted the following request to the U.S. Department of Justice for a criminal fraud investigation related to the 2005 $1.5 […]

Jul 042013
 

By Alex Barker in Brussels and Philip Stafford in London, Financial Times, July 1, 2013 11:31 am Investment banks’ 20-year grip over credit insurance markets has come under regulatory assault as Brussels served charges against 13 banks for allegedly conspiring to block exchanges from challenging their business model. The formal European Commission charge-sheet, running to […]

 July 4, 2013  Posted by at 1:55 am Uncategorized Tagged with: , ,  No Responses »
Jul 012013
 

Bank of America whistle-blower details latest scheme to abuse homeowners, evade settlement rules and pocket cash By David Dayen, Salon, Friday, Jun 28, 2013 Last week, I detailed bombshell revelations from Bank of America whistle-blowers, in which former employees of the bank detailed systematic fraud and deceptive practices inside their loan modification department — including […]

 July 1, 2013  Posted by at 2:38 am Uncategorized Tagged with: ,  No Responses »
Jul 012013
 
Deutsche Bank pays small penalty for Los Angeles foreclosure blight

Deutsche Bank settles L.A. claims on foreclosure blight FRANKFURT | Sat Jun 29, 2013 (Reuters) – Deutsche Bank said it has settled a lawsuit with the U.S. city of Los Angeles that accused the bank of allowing hundreds of foreclosed properties to deteriorate into slum conditions and destabilize communities. A statement from Los Angeles City […]

 July 1, 2013  Posted by at 2:09 am Uncategorized Tagged with: , ,  No Responses »