swaps

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 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
 
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 242014
 
Repair the Water Main Breaks – Make The Banks Pay!

Every day there is a new water main break caused by the pressure on the Detroit Water & Sewerage Department’s (DWSD) infrastructure by the freezing winter.  The press and Emergency Manager are using these breaks to justify the giveaway of the DWSD to suburban controlled entities, and as an excuse for privatizing the workforce and […]

Jan 272014
 
JPMorgan and Madoff Were Facilitating Nesting Dolls-Style Frauds Within Frauds

JPMorgan has been forced to pay fines and restitution of $2.6 billion for their 22-year role in aiding and abetting Ponzi-scheming Bernie Madoff.  The people of Detroit must demand the same – the Detroit Water and Sewerage  swap temination fees paid out in 2011 and 2012 by  JP Morgan Chase, Morgan Stanley, UBS and Loop […]

Dec 222013
 
Detroit Barclays Deal Should Be Thrown Out by Bankruptcy Court

By Abayomi Azikiwe Editor, Pan-African News Wire This is one of the most outrageous deals involved in the Detroit economic crisis. Why should tax dollars from income and casino revenue be pledged to pay Bank of America and UBS, two crooked financial institutions that have done nothing but create blight and misery for the people […]

Nov 222013
 
Why Wasn’t the NSA Spying on Bloomberg Chat Rooms Where Unprecedented Market Rigging Was Taking Place?

This article raises an interesting question.  But, the NSA’s purpose is not to investigate Wall Street Terror – it’s purpose is to “aid and abet” the rule of the capitalist class. By Pam Martens, Wall Street on Parade, November 7, 2013 New York City’s Billionaire Mayor, Michael Bloomberg, Majority Owner of Bloomberg LP, Home of […]

 November 22, 2013  Posted by at 2:45 pm Uncategorized Tagged with: , ,  No Responses »
Oct 242013
 

By Cheryl LaBash, Workers World Note: Cheryl Labash is a retired City of Detroit worker Oct. 21 — In a unanimous vote today, Detroit’s City Council refused to rubber stamp the state-appointed Emergency Manager’s plan to pay off loans called “interest rate swaps” that would cost the city millions of dollars in inflated interest to […]

Apr 302013
 

by Liam Vaughan, Bloomberg News, Apr 15, 2013 Banks are leaving the panel that sets ISDAFix, the benchmark for the $379 trillion swaps market, as regulators probe suspected manipulation of the rate. HSBC Holdings Plc (HSBA), Europe’s largest bank by assets, and Japan’s Mizuho Financial Group (8411) stopped contributing to the ISDAFix dollar rate between […]

 April 30, 2013  Posted by at 3:40 am Uncategorized Tagged with: , ,  No Responses »