Strategy meeting – Cancel Detroit’s Debt to the Banks, Sat., June 29, 1 PM

Strategy meeting – Cancel Detroit’s Debt to the Banks

Fight the Emergency Manager — Make the Banks Pay for Detroit’s crisis

• Analyze Orr’s proposals
• Discuss action steps to defend jobs, pensions and Detroit’s assets

Saturday, June 29 – 1PM

5920 Second Ave., Detroit (at Antoinette St., just north of Wayne State University)

Detroit Emergency Manager Kevyn Orr agrees that Detroit’s massive debt to the banks is unpayable and the root of Detroit’s “financial” crisis. These banks destroyed our neighborhoods with their racist, predatory lending practices. The banks caused 100,000 Detroit foreclosures.

On June 14, Orr showed bank payments can be stopped with a short term moratorium on some Detroit debt service so the city can continue to operate.

But Orr is a hit-man for the banks. The imposed EM law — racist, union-busting and anti-democratic PA 436 — says it is his job to guarantee payment of the bank’s debt service at the expense of city jobs, services and pensions.

However, PA 436 also says Orr must conduct an investigation of criminal conduct causing Detroit’s financial crisis. What has been more criminal than the banks’ fraudulent lending to the people of Detroit and the City itself! Investigate and prosecute the banks, now!

Cancel Detroit’s Debt to the Banks.

Not one penny to the banks who caused Detroit’s crisis.

No to austerity.

• Protect pensions for all current and future City retirees.

• Improve city services; protect city assets – Belle Isle, the DIA, and Water

• Restore lost wages and benefits for City workers; stop union busting and privatiza­tion.

The banks owe us.

There is lots of work to do to repair the bankers’ damage. Make the banks fund a mas­sive public jobs program at union wages so especially youth and all our unemployed neighbors can expand skills, plan and work to rebuild homes, recreation centers, and infrastructure; remediate environmental hazards, expand recycling and more – isn’t that the REAL road to security.

Only a united, mass movement of the people of Detroit can insure that funding Detroit’s human needs comes before payment to the criminal banks.

Moratorium NOW! Coalition – 313-680-5508 – moratorium-mi.org