Chicago

Is Chicago Going To Be The Next Detroit?

Wall Street Banks screwed major American cities like Chicago A few weeks ago, Ed Walker at Naked Capitalism wrote a piece about a white paper Saqib Bhatti of the Roosevelt Institute wrote last year detailing how Wall Street Banks screwed major American cities out of much needed cash. Bhatti claimed that cities are getting squeezed because […]

Kevyn Orr

Detroit’s New Financial Manager Kevyn Orr Denies Being A Tax Cheat

Did Kevyn Orr Destroy His Chances Of Being The “Savior Of Detroit”? For those who missed it last night, Chad Livengood at the Detroit News posted a great piece about how the newly appointed Emergency Financial Manager Kevyn Orr denied being a “tax cheat” but during the interview, he may have actually dug himself deeper into […]

Brooklyn Ponzi Scheme

LIBOR Rigging & Complex Derivatives By UBS Contributed To Detroit’s Demise

UBS, BofA, and JPMorgan Pocketed $474 Million As Detroit Descended Into Financial Chaos By LIBOR Rigging   “Even in the worst of times someone turns a profit.” – Ferengi Rule of Acquisition #162 As the downtrodden African-Americans and whites who make up what’s left of the City of Detroit’s 700,000 resident are about to have their fundamental human […]

The Olympics Of Restructuring A Dying American Rust Belt City

Will It Be The Thrill Of Victory Or The Agony Of Defeat For Kevyn Orr and Detroit?   Jeff Wattrick, Deadline Detroit “This is the Olympics of restructuring” -Kevyn Orr, Detroit’s New Emergency Financial Manager For many of Detroit’s 312 years of existence, it’s official motto has been “We Hope For Better Things; It Shall […]

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