The City of Detroit financial documents pertaining to municipal bond contracts and related issues obtained by the Moratorium NOW! Coalition are now ready to the public at detroitdebtmoratorium.org or here at DetrotDebtDocs
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EM Kevin Orr’s Invitation to creditors – faxed from Jones Day office in Cleveland
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No To The Emergency Financial Manager
Take It From The Banks, Not The Workers And Community The same banks who destroyed the City of Detroit’s tax base with their racist, predatory loans resulting in approximately 150,000 foreclosures in the past 5 […]
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How complex were these ‘credit default swaps’ from a interest rate stand-point? Was this a ‘kick-the-can-down-the-road’ transaction(s) because of looming termination or deadline payments the city could not meet, therefore settling for extremely high rates on bond payments?
Shawn Werdlow, former CFO -City of Detroit, now with the Bond and Securities firm Siebert Brandford Shank had to juggle these bonds continuously.