Cancel Detroit’s Debt To The Banks!

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Jun 152013
 
Marchers in downtown Detroit May 9, 2012 demand cancellation of Detroit’s debt to the banks. - See more at: http://voiceofdetroit.net/2012/09/27/detroit-dwsd-debt-shows-wall-street-never-loses-on-bad-swaps/#sthash.I3IL8ugM.dpuf

Marchers in downtown Detroit May 9, 2012 demand cancellation of Detroit’s debt to the banks.

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 Permalink  June 15, 2013  Posted by Moratorium NOW! at 4:13 am Uncategorized Tagged with: debt service moratorium  Add comments

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  Detroit creditors brace for haircuts, or worse, at meeting to avoid bankruptcy   Bank of America Lied to Homeowners and Rewarded Foreclosures, Former Employees Say

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Plan for the Adjustment of Debts of the City of Detroit

Disclosure Statement With Respect to Plan for the Adjustment of Debts of the City of Detroit

The Plan for Adjustment was filed in U.S. Bankruptcy Court by Emergency Manager Kevin Orr and Jones Day Law Firm, "on behalf of the City of Detroit," on February 21, 2014.

Demos Report: The Detroit Bankruptcy

by Wallace Turberville, Demos, November 20, 2013

Detroit skyline

click image of Detroit skyline to download report

New pamphlet: Behind Detroit’s emergency manager dictatorship and bankruptcy . . .

Behind Detroit’s emergency manager dictatorship and bankruptcy . . .

Behind Detroit’s emergency manager dictatorship and bankruptcy . . .
Click image to read pamphlet.

Excerpts from the deposition of Kevyn Orr, taken by Jerome Goldberg, attorney for a City of Detroit retiree, on August 31, 2013

mumia abu-jamalDetroit: Night of the Wolves (1:37) by Mumia Abu-Jamal

Three Detroiters discuss bankruptcy.

 kpfk_130808_150045lawyersguild.MP3 (MP3 Format Sound, 13.2 MB)

City of Detroit Proposal for Creditors from Emergency Manager Kevyn Orr, June 14, 2013

Proposal for Creditors from City of Detroit-Executive Summary 6-14-13

Financial and Operating Plan for Detroit - May 12, 2013, from the Office of Detroit Emergency Manager Kevyn Orr

Jones Day Report – August 2011

Pensions and Chapter 9: Can Municipalities Use Bankruptcy to Solve Their Pension Woes?

Which muni bond funds hold Detroit bonds?

What’s Municipal Bond Insurance?

Detroit FOIA Request

City of Detroit Financial Documents Received in response to the FOIA lawsuit by the Moratorium NOW! Coalition

Folder imageDetroit Debt Docs

Related:

FOIA letter

foia complaint filing 02-12-13

EXHIBITS 1 AND 2 FOIA Complaint

Press Release

ISDA Master Agreement

The ISDA master agreement is the most commonly used master contract for OTC derivative transactions internationally.  It is used to govern many of the financial transactions between the City of Detroit and Wall Street. Below are links to the agreement and sites with explanations.

Explanations:

ISDA Master Agreement - Wikipedia

ISDA Master Agreement - Practical Law

Documents:

Master ISDA Agreement (pdf)

ISDA Master Agreement and Schedule (pdf)

The Bankers group:

ISDA-International Swaps and Derivatives Association, Inc.

In the News:

ISDA news

Financial Reports

Report of the Detroit Financial Review Team, March 26, 2012

Report of the Detroit Financial Review Team, February 19, 2013

Legacy Costs and Indebtedness of the City of Detroit-Citizens Research Council of Michigan, Dec., 2011

Background Articles

Glossary of Terms

Just what are derivatives?

Inforgraphic: The LIBOR Scandal Explained

The Swap Crisis

Interest Rate Swap Report, SEIU, Mar. 22, 2010

The Blood of Cities: Public Finance, Debt, Accumulation

The Swaps That Swallowed Your Town

Wall Street's Tax on Main Street

What’s Municipal Bond Insurance?

The Plot Against Pensions

How Wall Street is bankrupting Public Transit Agencies by profiteering of off toxic swap deals

PublicSchool Emergency Managers

Robert Bobb And The Failure Of Public Act 72: A Case Study

DPS Emergency Manager Roy Roberts Revels in Accolades while Detroit’s Children Fall Further Behind

Research Tools

EMMA - Electronic Municipal Market Access

Visit the Moratorium NOW! Coalition website for actions and activities  against the Detroit Emergency Manager and the Banks

File your objection in court

Come to the organizing meetings every Monday at 7 PM
Moratorium NOW! Coalition Office
5920 Second Ave., Detroit, MI 48202
(Two blocks north of Wayne State U.), map
Accessible ramp at side entrance

phone: 313-680-5508, 248-470-0296

email:moratorium@moratorium-mi.org

Allies

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STAND WITH DETROIT

Local Media reflecting the people’s voices

Voice of Detroit masthead

Voice of Detroit


demwatch-aclu logo

by Curt Guyette, Investigative Reporter

 

Michigan Citizen logo

City of Detroit – Case 13-53846

US Bankruptcy Court-Detroit Case partial masthead

Click to go to the official website containing information for the City of Detroit Bankruptcy Filing for the United States Bankruptcy Court for the Eastern District of Michigan.

U.S. Government memorandum in support of the constitutionality of the Detroit bankruptcy

Demonstrators march in the “Great Walk to Freedom”, 50th Anniversary, June 22, 2013

Demonstrators march in the “Great Walk to Freedom”, 50th Anniversary, June 22, 2013

Slides for the May 4 RallyClick on the image above to view the PowerPoint slides from the May 4 Rally

Detroit’s Economic Crisis and the Role of the Banks: Part of a Global Crisis

Municipal Bankruptcy News - American Bankruptcy Institute

Kevin Oar-Repoman

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