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Detroit: Largest Bankruptcy Trial in U.S. History Ends

AFRICANGLOBE - Federal Judge Stephen Rhodes heard closing arguments in the largest municipal bankruptcy trial in United States history on November 8. The City of Detroit being unjustly represented by the law firm of the imposed emergency manager Kevyn Orr, Jones Day, attempted to make a case for forcing the majority African American municipality into insolvency where pensioners may get as little as sixteen cents on the dollar.

A Who’s Who Of The Conspirators Behind The Detroit Bankruptcy

AFRICANGLOBE - Two weeks of testimony in the Detroit bankruptcy case have exposed the pre-meditated character of the July 18 decision by Emergency Manager Kevyn Orr to initiate the largest municipal bankruptcy proceeding in US history.

Detroit Will Be Democracy’s Decisive Battle

AFRICANGLOBE - The principle of one-person, one vote – or any meaningful franchise, at all – is no longer operative for the majority of Black people in the state of Michigan, whose largely African-American cities are run by emergency managers accountable to no one but Rick Snyder, the venture capitalist in the governor’s mansion.

Back In White Hands: Detroit Elects First White Mayor In 40...

AFRICANGLOBE - In the 1950s, about 1.8 million people lived in Detroit, but the lure of new homes in fresh suburbs started an exodus from the urban core. A deadly race riot in 1967 saw parts of the city burn over several days and hastened White flight. And when a brash, Black labor leader named Coleman A. Young was elected mayor in 1973, Detroit's growing Black populace began to flex its political muscle.

White House: Not a Goddam Thing We Can Do’ To Help...

AFRICANGLOBE - Administration officials today bristled at suggestions that President Obama make even a symbolic trip to the predominantly Black city of Detroit, which last month filed for bankruptcy. “There’s not a goddam [thing] we can do right now to help them,” an Obama aide told Politico’s Glenn Thrush.

The Plan for Detroit: Fleece Working People to Save the Banks

The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally. In Detroit, it is the municipal workers who are being bailed in, stripped of a major portion of their pensions to save the banks

The Detroit Bankruptcy and the Drive Toward Dictatorship

AFRICANGLOBE - The bankruptcy of Detroit is being widely cited in the media as a model for the use of unelected officials and bankruptcy courts to rip up agreements and impose sweeping cuts on the pensions and health benefits of public employees, not only in Detroit, but in cities across the United States.

Rush Limbaugh: Detroit Went Bankrupt Because Blacks Drove Out Whites

AFRICANGLOBE - Economists are attributing Detroit’s recent bankruptcy filing to problems facing the entire Rust Belt region: a shrinking tax base, high health and pension costs, sprawl, and general dysfunction. But on Tuesday, Rush Limbaugh added another cause to the long list of factors that have contributed to the city’s downfall: Black people.

Obama Rejects Federal Aid for Detroit

AFRICANGLOBE - The Obama administration has rejected any federal rescue package for Detroit. The White House, which handed trillions of dollars to the banks and auto corporations, has made it clear it will do nothing to protect the pensions, jobs and social services of Detroit’s workers, which are targeted for massive cuts in the largest municipal bankruptcy in US history.

Leaked Emails Reveal Conspiracy To Throw Detroit Into Bankruptcy

AFRICANGLOBE - Leaked emails show that as far back as January, there were backroom discussions being held between Detroit and Lansing public officials and corporate law firm Jones Day suggesting that the best course for Detroit would be to send it through Chapter 9 bankruptcy.

Bank-Engineered Bankruptcy Filed in Detroit to Rob City of Pensions and...

AFRICANGLOBE - Detroit filed for the largest municipal bankruptcy in U.S. history Thursday after steep population and tax base declines sent it tumbling toward insolvency.

Detroit Files for Bankruptcy

AFRICANGLOBE - Once the very symbol of American industrial might, Detroit became the biggest U.S. city to file for bankruptcy Thursday, its finances ravaged and its neighborhoods hollowed out by a long, slow decline in population and auto manufacturing.

As Developers Gentrify Detroit, Evictions Increase

AFRICANGLOBE - Billionaire home loan tycoon and real estate investor Dan Gilbert is anticipating a windfall from the potential bankruptcy of Detroit and is rapidly increasing his holdings in downtown Detroit.

Detroit’s Last Stand?

AFRICANGLOBE - If you hadn't heard Detroit is under the control of Michigan Governor Rick Snyder appointee Emergency Manager Kevyn Orr, who over the last week released his reports on Detroit's dire financial situation as well as some of his plans to potentially avoid bankruptcy, which he is publicly willing to state is a 50/50 proposition.

Detroit’s Emergency Financial Manager Threatens Sale of All Cultural Treasures

AFRICANGLOBE - Detroit’s emergency financial manager has ordered the general valuing of every public asset in the city. In line with his earlier appraisal of the value of the works at the Detroit Institute of Arts.

Farrakhan Urges Black Unity in Detroit

AFRICANGLOBE - "We don't have a lot of money," Farrakhan said of African Americans. "But we have about 500,000 to 600,000 Blacks" still in Detroit. "If we would unite, we could choose what part of downtown we want," he said. "Don't let them drive you out of those homes."