Detroit: “Let’s Tax Wall Street, Get Our Money Back, and Turn on the Water!”

[Scuba]

http://billmoyers.com/2014/07/19/standing-up-to-disaster-capitalism-in-detroit/

Standing Up to Disaster Capitalism in Detroit
by John Nichols

Now, as the Detroit Water and Sewage Department is drawing international criticism for shutting off water service for low-income families, activists are asking why the people are being forced to pay while the Wall Street banks live large. On Friday, members of the National Nurses United union and local, state and national groups marched and rallied in downtown Detroit to say the priorities are out of whack.

Their message is direct: “Let’s Tax Wall Street, Get Our Money Back, and Turn on the Water!”

...

While politicians and pundits have tried to blame pensions, public servants and public services for the city’s financial challenges, the Demos report noted that “Detroit’s financial expenses have increased significantly, and that is a direct result of the complex financial deals Wall Street banks urged on the city over the last several years, even though its precarious cash flow position meant these deals posed a great threat to the city.”

The author of the report, Wallace Turbeville, a former Goldman Sachs investment banker, founder of the Kensington Group and well-regarded expert on infrastructure finance and public-private partnerships, was blunt in his assessment of the sources of the city’s challenges and the proper response. “Misguided and irresponsible decisions by politicians over the years, often at the urging of Wall Street, have funneled wealth out of Detroit’s neighborhoods, and enriched financial institutions and corporations in the process,” said Turbeville, a Demos fellow. “If Detroit wants to come back from this and rebuild a strong economy, it needs to reverse that trend and start prioritizing the people who live here over the interests of Wall Street bankers.”

Bolding mine.

[WillyT]

1. HUGE K & R !!!

[postulater]

2. Oh yeah! More of this ^^^^!

Go Detroit!

[woo me with science]

3. Hear, hear! HUGE K&R

This is what the whole goddamned WORLD needs to do to these fascists.

Enough is enough!

[TBF]

4. That's a good start. K&R nt

[BrotherIvan]

5. Imagine!

Big K&R!!!

[badtoworse]

6. At the end of the day, the city managers are responsible for the mess Detroit is in, not Wall Street

[Octafish]

7. It's Detroit's fault.

They're poor, so who cares?

[Scuba]

8. You clearly understand just how this works.

[Octafish]

9. Detroit is my adopted hometown.

Lived here about 45 years, all told. J Geils Band. Hockeytown. Renaissance Center...



Ripped Off: http://www.wsws.org/en/topics/newsCategory/detr/

Still, I love the place.

[Scuba]

11. The Jake Isles Band is from Detroit? I didn't know that.

Inside joke from many, many years ago.

[Octafish]

12. Was a full house.

Close enough. When you get a chance...

[Township75]

10. One reason things won't improve there is that they have stupid ideas

Sure they can pass a tax on wall st banks. And NYC can pass a tax on Detroit automakers. Detroit and NYC can pass a tax on you and everyone else in the us. Who thinks anyone is going to pay?

Great chant to shout though while walking down a street.