Governor Rick Snyder’s generous bankruptcy fountain leaves pensioners thirsty
Michigan Governor Rick Snyder remains in charge of Detroit’s future with assistance of willing participant former Jones Day attorney, now Emergency Manager Kevyn Orr. Snyder and Orr control Detroit’s fate.
If Federal Judge Steven Rhodes’ decision on Orr’s insistence Detroit is completely incapable of paying its debts results in a Chapter 9 Bankruptcy, pensioners stand to lose up to 90 percent of their monthly income — contrary to promises made within Michigan’s Constitution and valuable city assets sold outright from under taxpayers’ authority.
Together, they seem determined to drive Gov. Snyder’s bankruptcy bus over pensioners’ defined benefit plans while giving generous pay-for-play to friends, NERD fund donors, clients and partners.
For example, CVS Caremark gave $1000 to the NERD Fund. Orr then awarded the company a $60 million dollar contract. Orr’s long time friend Stacy Fox was given a $175,000 contract. Conway McKenzie, who suggested hiring Orr in the first place, hit the jackpot with a $4.2 million dollar contract. However, if Snyder has his way, the widow of the fire fighter Walter Harris, who died in the line of duty, will have less than $200 a month.
Not only are the contracts conducted without transparency or oversight, millions are funneled out of the city of Detroit in no-bid contracts to groups like the Manhattan Institute, which will implement stop-and-frisk on residents and other yet to be publicized corporations with no end in sight.
Monica Ross-Williams is the owner and executive producer of Independent Underground News and Talk.