(Source: Global Research website, March 18, 2013)
DETROIT, Mich. — On March 14, multi-millionaire Gov. Rick Snyder appointed Kevyn Orr as an “emergency manager’ over the city of Detroit. Detroit becomes the latest city in a string of other majority African American municipalities in Michigan to fall under the dictatorship of the state who are serving as agents of the banks who claim that the people owe approximately $16.9 billion in long term debt.
Orr, who was involved in the Chrysler bankruptcy re-structuring in 2009, immediately warned the city unions that they would be a target of his efforts. He said “Don’t make me go to the bankruptcy court. You won’t enjoy it.”
The emergency manager guarantees that debt-service be paid to the banks. All existing labor contracts and other measures can be thrown out based upon the interests of capital.
Full story: Global Research