CANCEL DEBT

Mar 112014
 
Action to fight bankruptcy restructuring underway

By Abayomi Azikiwe, Pan-African Newswire This article appeared in the Michigan Citizen A standing-room-only audience at the Central United Methodist Church came out March 2 after a snow storm to participate in an emergency town hall meeting designed to respond to Detroit  Emergency Manager Kevyn Orr’s Plan of Adjustment. The event was planned by a […]

 March 11, 2014  Posted by at 2:55 am Uncategorized Tagged with: , , , ,  No Responses »
Mar 052014
 
What's In Detroit's Latest Derivatives Settlement Proposal?

By Wallace Turbeville, Demos, March 4, 2014 The proposal includes a new provision … releasing the bank counterparties from liability in deals related to, but different from, the swaps. There may even be other undisclosed concessions in the settlement. Maybe this new settlement is not an improvement after all. The Detroit Emergency Manager, Kevyn Orr, […]

Mar 052014
 
Detroit Emergency Town Hall meeting opposes bankruptcy plan

By Abayomi Azikiwe, March 4, 2014 Detroit — A standing-room-only audience at Central United Methodist Church participated in an Emergency Town Hall meeting March 2 in response to the “Plan of Adjustment” in the Detroit federal bankruptcy case. The document is designed to institutionalize corporate rule over the people of this majority African-American city. The […]

Feb 282014
 
 Detroit declara guerra contra jubiladas/os

25 de febrero de 2014 Oficina WW/MO en Detroit El “Plan de Ajuste ” del administrador de emergencias Kevyn Orr, es una declaración de guerra contra las/os 20.000 jubilados de la ciudad de Detroit y sus pensiones. El plan, presentado el 21 de febrero en el caso de bancarrota de la ciudad, pide un recorte […]

Feb 162014
 
 Debt, Cuba and Detroit

By Cheryl LaBash, February 15, 2014 The following is excerpted from a talk by Cheryl LaBash, an organizer for last summer’s Five Days for the Cuban 5 and co-chair of the National Network on Cuba. LaBash highlighted the relationship between the struggle to free the Cuban 5; the development of economic solidarity structures throughout Latin […]

 February 16, 2014  Posted by at 1:34 am Uncategorized Tagged with: ,  No Responses »
Jan 172014
 
Court rules against giveaway to banks in Detroit

by Kris Hamel, January 16, 2014 Detroit,  Jan. 16 — With a decision community activists called “a major victory for the people of Detroit,” U.S. Bankruptcy Court Judge Steven Rhodes ruled today that the City of Detroit could not go forward with its loan deal with Barclays Bank that would have cost the city millions […]

Nov 182013
 
Detroit bankruptcy means people versus banks

By Abayomi Azikiwe, Workers World, November 17, 2013 Federal Bankruptcy Judge Stephen Rhodes heard closing arguments Nov. 8 in the eligibility trial for what could be the largest municipal bankruptcy in U.S. history. The city of Detroit, represented by Jones Day — the law firm of the city’s state-imposed Emergency Manager, Kevyn Orr — attempted […]

Oct 212013
 

Conclusion from  Collapse At Hand, by Paul Craig Roberts: The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would […]

 October 21, 2013  Posted by at 3:28 am Uncategorized Tagged with: , ,  No Responses »