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View Diary: Open thread for night owls: How deadbeat banks beat up Detroit (83 comments)

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  •  Bernie Sanders: Detroit may be a template.. (15+ / 0-)

    ..used to shed workers pensions and privatize public assets for pennies on the dollar to private interests

    Bernie Sanders:
    “It’s not only the road to privatization. I’ll tell you what else it is Ed. If in Detroit, as a result of the bankruptcy process you see massive cuts in the pensions that workers there worked for, were promised,; If you think that other cities and other states throughout this country will not be saying: ‘hey .. see that?..see what Detroit did?..We can also make massive cuts in the pensions that we promised out workers . Another attack on the workers of this country.

    Furthermore I think what you’re seeing in Detroit is the result of horrendous trade policies that have gone on for decades which have resulted in the shutdown of tens of thousands of factories in America..”

    Bernie Sanders  begins @ minute 3:34 – (short commercial – sorry)
    Transcript @ link:

    De-industrialization of America and the loss of good paying  jobs with pensions for a secure retirement.
    Maquiladeros : the “Millers Portion”


    A maquiladora (Spanish pronunciation: or maquila (IPA: is the Mexican name for manufacturing operations in a  free trade zone (FTZ), where factories import material and equipment on a  duty-free and  tariff-free basis for assembly, processing, or manufacturing and then export the assembled, processed and/or manufactured products, sometimes back to the raw materials' country of origin.
    Off-shoring that hurts all workers globally. So when republicans say "free trade" what they really mean is literally getting workers to work for as close to - for free - as possible.  And avoid paying taxes .

    "creative destruction" - republican style

    So Rick Snyder’s plan is no accident that just happened and was always inevitable, as he said this weekend on one of the MSM shows.  

    Plus all this following the emergency manager takeover of democracy. The right wing rural population that surrounds the more Democratic urban locations, along with ALEC give Snyder his marching orders it sure looks like to me.

    P.S. Good., some push back Bankruptcy is being challenged

    •  I first saw Corporations using bankruptcy to (9+ / 0-)

      invalidate labor agreements and pension obligations during the "go-go" 1980's when the leveraged buyout boom began in earnest.  Financial guys of the Mitt Romney ilk, saw an opportunity to make money by taking advantage of troubled companies in this way.  Encouraging bankruptcies specifically to reorganize them without these financial burdens, buy them on the cheap and make big financial windfalls when the companies emerged out of bankruptcy leaner and meaner.  So that these same guys, or at least their brethren are transferring that template to cities is no big surprise, unfortunately.  These people will not stop until they have rung every penny out of this country. They care not for the carcass they leave behind.

      "Too often we enjoy the comfort of opinion without the discomfort of thought." - John F. Kennedy -7.2, -7.9

      by helpImdrowning on Mon Jul 22, 2013 at 09:33:24 PM PDT

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      •  Corporations have been given carte blanche... (1+ / 0-)
        Recommended by:

        to rape and pillage America, just as they have done to the rest of the world for decades. It's no wonder we have so many enemies looking for ways to do us in.

        I shared 96% of my DNA with a chimpanzee. In return, the chimpanzee gave me a banana. There is no duty more indispensable than that of returning a kindness.

        by glb3 on Tue Jul 23, 2013 at 01:24:01 AM PDT

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    •  hannity named some cities that need the same treat (4+ / 0-)

      ment on his show today- maybe he got the list

      This is a list of 76 universities for Rush Limbaugh that endorse global warming denial, racism, sexism, and GOP lies by broadcasting sports on over 170 Limbaugh radio stations.

      by certainot on Mon Jul 22, 2013 at 10:14:22 PM PDT

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    •  If I was the "emergency manager" I'd confiscate.. (6+ / 0-)

      ..or re-possess (or whatever the correct term is) every single one of the old empty factories, buildings, barns, greenhouses, apartments, homes..whatever putting them back into the public domain. ..

      They choose not to finish the legal steps to foreclosure, leaving the properties vacant. Banks that walk away from homes do not have to notify the city, or even the borrower, that they have abandoned the foreclosure process. Borrowers kicked out of their homes then find themselves still responsible for property tax payments.
      ..then hire local small contractors to bring them up to code, ready for use. Leasing on good terms or for sale at a fare price to small business startups. Maybe even wa y cheap to begin with, but only for actually inhabitants, sole proprietors of a small business - NOT speculators - Not ever. No suits iow's

      Years ago I had work in San Francisco doing that to some of the nicest old buidings. I was just a journyman carpenter way when then and can't remember but it might have been part of s HUD thing (?) can't remember now.

      But som of these old buildings had beautiful woodwork and trim, hard wood floors - even inlaid patterms. It was good work. It was progress. It was good.

      If a program like that could happen, I'll bet it could be the spark needed putting workman back to work restoring these buildings.

      And the banks. Fuck'em. They walked away. Use it or lose it - an expression I don't care for, but in this case. It fits

      Besides, something about old factories and old barns are cool.

      The End

      •  This is a really great idea and a way to get (3+ / 0-)
        Recommended by:
        Eric Nelson, JeffW, sunny skies

        people working, people "commerce-ing" who normally wouldn't get such an opportunity, and cleaning up abandoned areas of cities.  Makes way too much sense and is way too fair for a republican run enterprise, I mean city, to launch.

        "Too often we enjoy the comfort of opinion without the discomfort of thought." - John F. Kennedy -7.2, -7.9

        by helpImdrowning on Mon Jul 22, 2013 at 10:36:20 PM PDT

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