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Detroit In Play E-mail

Update 2014

BankruptcyMisconduct is once again shown to be clairvoyant. Traditional media are picking up on the inherent Conflict Of Interest issue involving Jones Day and the Detroit Bankruptcy case. Whenever you have bankruptcy lawyers with connections to involved banks, it can never go well. So while many in the main stream media report that 'compromise with the banks' has been reached, only a few draw the connection between the conflicted lawyers in charge of it all actually cutting deals which benefit their banking buddies. Here we see Wallace Turbeville write at Demos.org :

The proposal includes a new provision that places the possible misdeeds surrounding the city’s financial dealings squarely before the bankruptcy court by releasing the bank counterparties from liability in deals related to, but different from, the swaps. There may even be other undisclosed concessions in the settlement. Maybe this new settlement is not an improvement after all.

So, Jones Day does a 'favor' for UBS (oh, we love 'dem foreign banks), Bank of America and their wall street associates.  So, not only do they avoid having their entire claims thrown out - their dirty derivative crimes won't see the light of day.  You see Virginia, the bankruptcy courts are not merely used to shield crimes by Debtors and their management, our corrupted courts also shield crimes by certain connected creditors. 

Bill Schuette is either too much of a dolt to even get this, or he's clever enough to know that the press won't dig deep enough and stay on it long enough for joe citizen to notice.  The tragedy of it all is that Bill Schuette had the power, and explicit notice of the conflict history, to keep Jones Day completely out of the State Of Michigan in the first place.  Who knows, maybe the pensioneers would have scored a few nickles more on their recoveries if the crooks didn't get away with it...

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The City of Detroit is next in play in the dirty game of BankruptcyMisconduct.  It's time for Police, Firemen, and Teachers to bend over and kiss their hard worked for pensions goodbye.  It would be funny if it wasn't so sad, but what more would you expect when the dirty lawyers who got themselves in charge of this fee frenzy have a spotless track record for favoritism towards their hidden hedge fund clients.

Anyone who hopes to collect on their pension is a fool if they let Kevyn Orr bring in his Jones Day cronies, dirty lawyers with a spotless track record taking care of their hidden hedge fund clients.

 

Your Pensions are at risk with the Dirty Lawyers from Jones Day in charge


Baby Got Baggage

Anyone who wants a chance at understanding if he'll ever get his pension need only first understand that Kevyn Orr is joined at the hip with Jones Day.  That is to say, they are "Associates".  Anyone who knows anything about bankruptcy and reorganization knows that the sad reality is that conflict of interest rules all outcomes, that quid pro quo is the de facto business model, and that certain law firms have clear histories of caring more about their hidden and conflicted clients then about their own mothers.

 

Kevyn Orr, .... seriously!

Bill Schuette - Puts Himself In Play!

Read about William Duncan Schuette on his very own page here.  It seems that the Attorney General for the State of Michigan has thrown his own hat into the ring.  At this point, we can only hope that Bill will turn out to be man enough for it all.  You can track Billy D's foray into the abyss that is the intersection of neo-justice and our bankruptcy system at our free downloads section on Detroit here.  There will likely be so much for readers to enjoy on this Detroit thing.

The dubious notion of professional courtesy squares off against a prosecutor's oath

 Mr. Schuette has to face the dilemma of two competing forces: following his oath to the people of Michigan, or being mindfull of his legal & political career by paying homage to "professional courtesy" vis a vis the Jones Day lawyers - out of state lawyers who are being allowed to visit and work under the strict rules of Pro Hac Vice - which BankruptcyMisconduct points out is a double edged sword.  All misdeeds by the Jones Day lawyers are in play for Schuette to review, and we can only hope the prosecutorial discretion does not cloak the dirt of Bennett and his dirty bretheren in the law firm with sooo many hedge fund clients.

Keep reading our pages, as we may offer some interesting ideas that could help.