by Thomas Stephens
How do you spell the political and economic murder of a Black metropolis? The catastrophe in Detroit, from A to Z.
ABC’s of Detroit Bankruptcy
by Thomas Stephens
There has been a lot of publicity and debate lately about Detroit’s bankruptcy. It’s confusing and often disturbing. As a guide to past, current and future events, we offer the following glossary of key terms and their meanings for our home town:
Aa is for “Austerity”
“Austerity” is a social policy where the rich get richer and the poor get poorer, because “Frankly, you can’t afford it.” (Kevyn Orr, referring to the Detroit Water and Sewerage Department)
Bb is for “Bail-in”
“Bail-in” is how Wall Street fraudsters and their political stooges help themselves by stealing pensions and public resources previously dedicated to quality of life for working People, because bail-outs are too unpopular. (See also “Theft”)
Cc is for “Carveout”
“Carveout” is extra legal fees contractually provided to Jones Day for services performed, in addition to the “core restructuring” (theoretically capped at over $3.3 million) and litigating the Chapter 9 bankruptcy (actually not capped at all).
Dd is for “Detroit”
“Detroit” is 139 square miles of prime under-utilized, i.e., cheap, urban real estate located on the busiest border crossing in North America, in the heart of the planet’s richest fresh water resources, now exclusively dedicated to the wealth and glorification of Jones Day and their corporate clients and cronies. Also home to over 600,000 People. Motown. Arsenal of Democracy. Beloved Jazz Paradise (Toni Morrison) (See also “dumb, lazy, happy and rich” - Kevyn Orr, referring to “Detroit”)
Ee is for “EMFs”
“EMFs” in conversations with elderly ladies, members of the clergy and others who are scrupulous regarding the niceties of language, means “Emergency Manager Fascists.” In all other case it means “Evil Mother Fuckers.” Examples include Governor Rick Snyder, Treasurer Andy Dillon, Kevyn Orr and Jones Day. (See “Emergency/ EMF,” by Will See Music.
Ff is for “Fightback” and “Fraud”
“Fightback” is what we do. “Fraud” is what Jones Day and Wall Street predators do.
Gg is for “Government”
“Government” was formerly based on the Constitution, essentially requiring that:
1) There will be rules; 2) Government will follow the rules; and 3) If government breaks the rules, there will be a fair, just, equitable and efficient remedy. Now it is Kevyn Orr and Jones Day, and none of that applies.
Hh is for “Help”
“Help” is what Detroit will not get from the federal government, the state of Michigan, the wealthy white-dominated suburbs of southeastern Michigan or anybody else.
Ii is for “Insiders”
“Insiders” are clients and cronies of Jones Day who think they are smart, energetic, sane and deserving, although they are really cunning, self-regarding, money- and power-crazed and privileged.
Jj is for “Jones Day”
“Jones Day” is the nation’s largest corporate law firm representing more than half of the Fortune 500, who as “restructuring counsel” plan to negotiate Detroit’s restructuring with Wall Street predators. Kevyn Orr’s employer.
Kk is for “Kleptocracy”
“Kleptocracy” is government by corporate predators and thieves. (See also “Jones Day” and “Wall Street”)
Ll is for “Law” and “Labor”
“Law” is a quaint terms for what used to be the basis of government, before the EMFs, Jones Day and corporate restructuring. “Labor” is the name of the social movement that made broad prosperity possible in the United States, including the ‘weekend,’ the ‘middle class,’ ‘vacations’ and ‘retirement.’ “Labor” is also the scapegoat for the crisis of capitalism in the 21st century.
Mm is for “Money”
“Money” is apparently the only thing EMFs care about.
Nn is for “No”
“No” is the answer to austerity, bail-ins, carveouts, EMFs, fraud, Jones Day, kleptocracy, plutocracy, corporate restructuring, theft, Wall Street, white supremacy and xenophobia. (See also “Fightback”)
Oo is for “Other”
“Other” is what white suburbanites are miseducated to see Detroiters as. (See also “Xenophobia.”)
Pp is for “Plutocracy” and “Pension”
“Plutocracy” is government by the rich. (See “Detroit’s New Bankster Plutocracy.”)
“Pension” is earned income, contractually and constitutionally guaranteed, that makes retirement possible, and the theft of which destroys lives. (See “bail-in”)
Qq is for “Questions”
“Questions” are the only things there are more of than corporate lawyers raised up by Detroit’s restructuring.
Rr is for “Restructuring”
“Restructuring” is a corporate feelgood word for “bankruptcy.” It is necessary in Detroit, but based on justice, not by and for Jones Day. The alternative is “Revolution.” (See The Beatles “Revolution,” and Bob Marley and the Wailers “Revolution.”)
Ss is for “Serfs”
“Serfs” were formerly known as “Detroiters.” (See also “Jones Day,” “Plutocracy” and “Wall Street.”)
Tt is for “Theft”
“Theft” is the socioeconomic result of austerity, bail-ins, carveouts, EMFs, Jones Day, kleptocracy and plutocracy.
Uu is for “Underground”
“Underground” is the real Detroit that will bite the EMFs and Jones Day in the ass.
Vv is for “Victory”
“Victory” will be the long term result for Detroit after the EMFs, Jones Day and all the horses they rode in on are long gone and good riddance.
Ww is for “White Supremacy” and “Wall Street”
“White Supremacy” is how austerity, bail-ins, carveouts, EMFs, Jones Day, kleptocracy and plutocracy [emergency] manage to do what they do. “Wall Street” is our new Corporate Master.
Xx is for “Xenophobia”
“Xenophobia” is a social mental disease based on the imperial mindset of hipster colonizers, white supremacy, gentrification and theft of public spaces and resources.
Yy is for “Yes” and “Youth”
“Yes” is what corporate media and EMFs automatically, dogmatically and reflexively say to every selfish and abusive demand of the American Legislative Exchange Council (ALEC), the Mackinac Center for Public [sic] Policy, the Regional Chamber of Commerce and other agents of white supremacist capitalist patriarchy and injustice. “Youth” is the awakened social force that will destroy “EMFs,” as they realize that “bail-ins” and “carveouts” threaten their futures.
Zz is for “Zoo”
“Zoo” is the psychic environment of corporate-dominate restructuring implemented by Jones Day on behalf of kleptocracy, plutocracy, white supremacy and Wall Street.
Tom Stephens is a people’s lawyer living in Detroit. He can be contacted at jail4banksters@yahoo.com.
"One Big Beautiful Bank Job!" is the latest from BAR's Poet-in-Residence.
With the ritualistic murder of George Floyd by the occupation forces referred to as the police that roam the streets and barrios of the Black and Brown colonized communities in the United States, the…
As workers across Africa face growing challenges, the leadership of the African Regional Organisation of the International Trade Union Confederation remains crucial in the fight for labor rights and…
A bankrupt liberal class signed on to the Zionist witch hunt against supposed antisemites, refused to condemn Israel for its genocide and in the process gave weapons to its…
The story of Ward Al-Sheikh Khalil is a horrifying reminder of the human cost of Israel’s war on Gaza. As thousands of Palestinian children face death, the world must confront the devastating…
