From NOEBIE.net
Dianne Feeley writes for Solidarity.
Since the state of Michigan took over the Detroit Public Schools (DPS) at the end of the 1990s, the system has lost more than 100,000 students. The state’s “efficient management” built up a $483 million debt.
Read More: A Recipe for Killing a School System | Solidarity
Saqib Bhatti writes that Detroit’s bankruptcy wasn’t inevitable. Neither is Chicago’s. But the austerity hawks don’t want you to know that.
Read the Article: Why Chicago Won’t Go Bankrupt—And Detroit Didn’t Have To – In These Times
Jerry White of the Social Equality Party describes how Detroit is currently being carved up by the bankers in what will become a model for other American cities in decline.
Detroit, the former auto capital of the world, is in the final stages of a bankruptcy process that has from the start been a conspiracy of the banks against the city’s working class population. Closing arguments in federal bankruptcy court are scheduled to begin next week, a legal formality before the city’s brutal restructuring plan is approved by the judge.
The so-called “Plan of Adjustment” will gut the pensions and health benefits of more than 30,000 current and retired city workers, sanction the sell-off of public assets, and provide a legal fig leaf for the termination of water and other vital services to entire working class neighborhoods.
Last week, some 200 investment bankers from throughout the US gathered at the Center for Venture Capital and Private Equity Finance at the University of Michigan to discuss the business opportunities emerging from the carve-up of Detroit.
Read more: The carve-up of Detroit – World Socialist Web Site.