Detroit bankruptcy for dummies

July 22, 2013 – 00:00

Detroit Michigan,Poverty The collapse of Detroit,the former world capital of the automobile,a milestone for the historic decline of American capitalism. It is also a new starting point for the social cons-revolution led by the ruling class to pay for the failure of his system to the working class.

Kevyn Orr,the "tsar" Finance has not been elected,Republican Gov. Rick Snyder,the Democratic Mayor David Bing and the mainstream media all speak of the horrible situation of Detroit - 78, 000 abandoned buildings,faulty streetlights ,firefighters understaffed and with an outdated material - not to challenge politicians and company management who are responsible,but to justify the destruction of living standards and essential public services workers n 'have no responsibility in this dire situation.

By choosing to go to court,Kevyn Orr (pictured below),Wall Street lawyer specializing in bankruptcy proceedings,wants to ensure the repayment of debts owed by the city to large banks and bondholders breaking contracts contracts with unions by slashing pensions and health insurance for city workers,whether active or retired,leaving abandoned utilities,privatizing public lighting,transportation and sewers and selling public goods such as reprocessing plant wastewater,Belle Isle Park,the municipal zoo animals,and the famous collection in the world works the Detroit Institute of Arts.Kevin Orr

As a result,hundreds of thousands of people in Detroit will be thrown under conditions more miserable.Thousands of small businesses will be liquidated.At the same time,the city gives hundreds of millions of dollars of public funds to local billionaire Mike Ilitch,owner of the hockey club Red Wings to allow him to build a new stadium,and real estate mogul Dan Gilbert for subsidize the project gentrification part of downtown.

In pursuing this policy,Orr has the bipartisan support of big business and the Obama administration,which excluded all federal aid to Detroit.

By Detroit bankruptcy,the ruling class has revealed the reality of class domination and the dictatorship of capital that stands behind the decorum of democracy. Domination of the banks and big business is embodied in the actions of their agent Orr,who operates outside any democratic control.

Source: www.cameroonvoice.com


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