Apr 15, 2013
Kevyn Orr is a hot-shot lawyer picked by Michigan Governor Snyder to be the emergency financial dictator over the city of Detroit. Orr is from the Wall Street law firm of Jones Day, lawyers to the very wealthy and to all the major banks. In fact, Jones Day advises Bank of America Merrill Lynch – which just happens to hold the municipal bonds of Detroit!
All the officials say there is no conflict of interest, because Orr has temporarily resigned from the firm and put his stock in trust. Ha!
What they really mean is they all agree that the banks should be protected at all costs!
And they want that cost to be paid by the workers and the poor of Detroit.