debt service moratorium

Oct 232013
 
Zimbabwe Government wants debt freeze for farmers

  The Zimbabwe Herald, Oct. 14, 2013 VICE President Joice Mujuru says Government intends to engage banks with a view to freezing debts owed by farmers to enable them to access funding for the 2013/14 cropping season. She said the stop-order loan repayment system should be resuscitated with respect to farmers who delivered grain to […]

 October 23, 2013  Posted by at 6:47 pm Uncategorized Tagged with:  No Responses »
Oct 202013
 
Who Broke Detroit?

Detroit did not just go bankrupt.  It was driven to bankruptcy by the banks and corporations that are profiteering off the city’s crisis.  While essential services are cut and the Emergency Manager tries to sell off our assets, banks are extracting millions of dollars from our city through toxic swap deals and large developers are […]

 October 20, 2013  Posted by at 3:38 am Uncategorized Tagged with: , ,  No Responses »
Jun 302013
 
Mass march commemorates ‘Great Walk to Freedom’

By Abayomi Azikiwe, Workers.org, June 28, 2013 June 22 represented a highpoint in Detroit when tens of thousands of people gathered on Woodward Avenue in midtown and marched downtown to Hart Plaza. The demonstration marked the 50th anniversary of the “Great Walk to Freedom” on June 23, 1963, when hundreds of thousands made a profound […]

Jun 222013
 
EM Orr’s plan for Detroit: phony debt moratorium, theft of city assets including water, Belle Isle, pensions

by Diane Bukowski, Voice of Detroit, June 20, 2013 Wall Street creditors fully insured, will get paid Orr, advisors declare State Constitutional pension guarantee invalid Want residents, workers, retirees to take severe cuts Drastic action by unions, peoples’ leaders needed DETROIT – According to business analysts, the city’s pension funds and unions should not be […]

Jun 212013
 
Detroit's Debt Crisis: Everything Must Go

The city just suspended its payments to Wall Street. But is this the beginning of a resurrection for the city – or an organ sale? By Laura Gottesdiener, Rolling Stone, June 20, 2013 Diego Rivera is under attack in Detroit. It’s not the first threat to the late Mexican artist’s famed murals, which depict the […]

Jun 142013
 

Related: 8 key points of Kevyn Orr’s report to creditors about Detroit debt Tom Walsh: Kevyn Orr presents stark choices to reverse Detroit death spiral Kevyn Orr: Detroit pension plans on chopping block Kevyn Orr targeting pensions: Legal fight expected Orr: Detroit to halt debt payments, reinvest $1.25 billion in city Detroit emergency manager Kevyn […]

Jun 142013
 

Orr says bankruptcy decision could come within 30 days: ‘We are tapped out’ By Robert Snell, Darren A. Nichols and Christine Ferretti | The Detroit News Emergency Manager Kevyn Orr hopes to know within 30 days whether his restructuring plan pitched to creditors Friday is enough to keep Detroit from filing the biggest municipal bankruptcy […]

Jun 142013
 

By Hugh Son & David McLaughlin, Bloomberg News – Jun 14, 2013 Bank of America Corp., the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents. Mortgage workers falsified records and were told to delay U.S. loan-assistance […]