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AFRICANGLOBE - Nothing reveals more openly the criminal looting of Detroit by the wealthy elite than the hundred million dollars being paid out to well-connected law firms, accountants and consultancy businesses, which prepared the city’s bankruptcy. The fee bonanza has been underway as least since early 2012 and accelerated immediately after Michigan Governor Rick Snyder signed a revised emergency manager law on December 27, 2012.
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.
AFRICANGLOBE - Michigan Governor Rick Snyder declared that Detroit is in a state of financial emergency, allowing the state to take control of the struggling city. City officials have a 10-day window to counter the state’s takeover , but Snyder confirmed that he was already considering a candidate for emergency manager to lead Detroit.