• Detroit not broke according to FAB docs
• Duty to bargain reinstated
• People say: “Let the banks bleed”
DETROIT– Despite the definitive defeat of Michigan’s Public Act 4 (PA4) at the polls Nov. 6, its minions handling City of Detroit governmental affairs appear determined to stay until they are dragged out by their heels.
Members of the community and city workers appear equally determined to see them vanish into the dustbin of history. At meetings of the city’s “Financial Advisory Board” (FAB) Nov. 12 and of the Detroit City Council Nov. 13, they demanded “people before banks,” and excoriated state-appointed officials and their elected collaborators. They said that “social tension” in Detroit is rapidly rising.
FAB meeting Nov. 12, 2012
“We are proceeding forward with the reform agenda,” Walter ‘Kriss’ Andrews said at the beginning of the Nov. 12 meeting of the FAB, established by the city’s PA4 Financial Stability [consent] Agreement (FSA). “We are not planning to stop at all. The repeal of Public Act 4 didn’t put one dime in the city’s coffers.”http://www.detroitmi.gov/Portals/0/docs/mayor/pdf/Financial%20Stability%20Agreement.pdf
The nine-member FAB is an appointed board which can overrule the city’s elected officials. Andrews is the “Project Management Director” for Detroit, appointed to his $220,000 -a year position by Michigan Governor Rick Snyder and Detroit Mayor Dave Bing to enact a “reform agenda” by dismantling the city.
Andrews presented a 77-page report to the FAB. He claimed it shows the city is in imminent danger of going broke. However, the report does not include in city revenues the remaining $81 million the city borrowed from the state under the consent agreement, or pending property tax payments. Instead, it adds a costly “re-structuring analyst,” likely a firm. Detroit would be liable for half the costs of that firm.http://www.detroitmi.gov/Portals/0/docs/mayor/FAB_Meetings/FAB%20discussion%20document%202012-11-12%20vfin.pdf
Public calls FAB illegal, wants banks to pay to rebuild Detroit
On a side note: FAB chair Pierce’s bank a defendant in national “LIBOR” lawsuit