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Mar 052014

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March 5, 2014 Posted by Moratorium NOW! at 4:03 am Uncategorized

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Detroit Emergency Town Hall meeting opposes bankruptcy plan

What’s In Detroit’s Latest Derivatives Settlement Proposal?

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

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 . . .
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

Detroit: 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

Detroit Debt Docs

Related:

foia complaint filing 02-12-13

EXHIBITS 1 AND 2 FOIA Complaint

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:

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

STAND WITH DETROIT

Local Media reflecting the people’s voices

Voice of Detroit

by Curt Guyette, Investigative Reporter

City of Detroit – Case 13-53846

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

Slides for the May 4 Rally Click 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

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DWSD Shutoffs on Belgian radio
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Wall Street mouthpiece: the water shutoff policy is a necessary part of Detroit’s restructuring
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‘NO’ to privatization in Philadelphia
EFF to Jones Day: Don’t Be A Trademark Bully
Detroit’s Water War: a tap shut-off that could impact 300,000 people

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