Apr 112013

MAKE THE BANKS PAY DETROIT FOR THE DESTRUCTION THEY CAUSED! Hear an analysis of how the banks swindled Detroit based on thousands of pages of documents on the bond deals obtained through a Freedom Of Information Act lawsuit by the Moratorium NOW! Coalition. SATURDAY – MAY 4, 2013 – 1:00 PM CENTRAL UNITED METHODIST CHURCH […]

Mar 312013
The Blood of Cities: Public Finance, Debt, Accumulation

Good background article on municipal financing and derivatives When Bill Clinton was elected in 1993 US Treasury bond yields were trading around 5 percent. Within a year prices dipped and yields shot upward of 8 percent. The bond market —meaning a relatively elite coterie of highly paid investment managers working for the largest global banks, […]

 March 31, 2013  Posted by at 4:12 am Uncategorized Tagged with: ,  No Responses »
Mar 152013

from Bloomberg News By Darrell Preston and Chris Christoff – Mar 13, 2013 The only winners in the financial crisis that brought Detroit (9845MF) to the brink of state takeover are Wall Street bankers who reaped more than $474 million from a city too poor to keep street lights working. The city started borrowing to plug […]

Feb 182013
Detroit activists use lawsuit to demand: ‘Show us the debt!’

By Abayomi Azikiwe on February 14, 2013 Detroit,  Feb. 14 — A Freedom of Information Act lawsuit was filed today on behalf of David Sole, a retired City of Detroit employee and a co-founder of the Moratorium NOW! Coalition to Stop Foreclosures, Evictions and Utility Shutoffs. The suit was filed because the City’s Law Department […]

 February 18, 2013  Posted by at 4:39 am Uncategorized Tagged with: , , , ,  No Responses »