The Plunder of Detroit and Iraq

Margaret Kimberly @ Black Agenda Report - The ugly face of empire and disaster capitalism is visible all over the world. Detroit, Michigan, was once a thriving city but was sent into a tailspin by the deindustrialization of the United States, white flight, and institutional racism which blamed black people who were in fact the victims of catastrophe. The coup de grace was delivered by big banks like UBS, Bank of America and Barclays, which sold risky derivatives schemes to corrupt Detroit politicians. When the financial deal inevitably headed south, the banks were the creditors first in line for a payout.  Read more.