interest rate swaps

Jul 012014
 
Detroit Financial Dictator Uses Water as Weapon - Black Agenda Radio

The water cut-offs that could soon affect 30,000 Detroit households are “an effort on the part of the Emergency Financial Manager to intimidate people, to drive even more people out of the city – but, moreover, it is aimed at privatizing and breaking up the Detroit Water and Sewage Department,” said Abayomi Azikiwe, an organizer […]

Jul 012014
 
DWSD Shutoffs on Belgian radio

Click on the image above to hear Moratorium NOW organizer Abayomi Azikiwe on Belgian radio, Redactie Radio Centraal, or click here. Detroit: straks honderdduizenden zonder water Verschillende organisaties en burgerinitiatieven in Detroit ageren momenteel heftig tegen een minstens even heftige evolutie: zo’n 300.000 gezinnen worden, aan het tempo van een paar duizend per week, droogweg […]

Jun 302014
 
Detroit's Emergency Manager Shuts Off Water for Thousands of Homes; Is Your City Next?

Interview with Tom Stephens, a lawyer, a lifelong metro Detroit resident and an activist by Joan Braunwasser of OpEdNews.com. My guest today is Thomas Stephens, a lawyer and lifelong metro Detroit resident. Welcome to OpEdNews, Tom. Joan: The Institute for Public Policy recently sent out an email blast about the situation in Detroit [June 26, […]

Jun 202014
 
‘Make the banks pay, not retirees!’

By Kris Hamel, June 20, 2014 After picketing the Detroit Water and Sewerage Department building on June 13 to demand the end of water shutoffs to thousands of Detroit households behind in their bills, “Detroit Freedom Friday 6” participants boldly marched through downtown to Bank of America. Chanting, “Make the banks pay, not the retirees!” […]

May 202014
 
Detroiters: ‘No cuts to our pensions!’

By Kris Hamel, May 19, 2014 Ballots will be sent the week of May 12 to tens of thousands of city of Detroit retirees to vote “yes” or “no” to pension cuts being imposed by the state-appointed emergency manager, Kevyn Orr. These cuts are part of the municipal bankruptcy forced onto the city by Orr […]

 May 20, 2014  Posted by at 4:09 pm Uncategorized Tagged with: , , ,  No Responses »
May 082014
 
Detroit May Day: ‘Make the banks pay!’

By Abayomi Azikiwe, May 7, 2014 May Day in Detroit focused around the ongoing struggle against emergency management, the forced city bankruptcy and the role of the banks in the economic crisis. A coalition of 35 organizations, including the Moratorium NOW! Coalition, Detroiters Resisting Emergency Management, the local chapter of National Action Network, the Rosa […]

Apr 182014
 
Judge says Detroiters owe banks $85 million

By Abayomi Azikiwe, April 17, 2014 The ruling on April 11 in the Detroit municipal bankruptcy by Federal Bankruptcy Court Judge Steven Rhodes awarded an $85 million payment to two banks that are heavily implicated in the financial ruin of Detroit and other cities throughout the United States. Rhodes ruled that the third negotiated attempt […]

Mar 052014
 
Swaps, COPs & Lingering Questions

Good description of Certificates of Participation and other terms in the Detroit Bankruptcy. Curt Guyette, Investigative Reporter, ACLU of Michigan, February 5, 2014 In 2005, the city of Detroit faced a monumental dilemma: It desperately needed to borrow more than $1.4 billion to help shore up its two pension systems, but doing so would far […]

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, […]