Friday, September 20, 2013

No Federal Bailout for Detroit: Obama Administration Meets With Corporate Interests Enslaving Black City

September 19, 2013 at 7:13 pm

Obama officials coming to Detroit to discuss outreach

David Shepardson
Detroit News Washington Bureau

Washington— Four senior Obama administration officials will meet with Detroit and Michigan officials next week as part of the continuing outreach to the city in the wake of its historic bankruptcy filing.

On Sept. 27, according to an administration official, Attorney General Eric Holder; Housing and Urban Development Secretary Shaun Donovan; Transportation Secretary Anthony Foxx; and Gene Sperling, director of the White House National Economic Council will travel to Detroit to continue a series of meetings focused on supporting the city’s economy and effectively targeting resources.

The meeting will include state and local elected officials and community leaders, the official said.

The administration has been holding a series of meetings on Detroit’s financial troubles. Sperling, a Michigan native, met two days in Washington this week with the Detroit-based Skillman Foundation.

“We’re going to continue to support the efforts under way in Detroit and ensure the federal government is an active partner in supporting the revitalization of the city. This effort is about lifting up Detroit, and committing to a shared, long-term investment that will enable the businesses and residents in Detroit to expand opportunity and renew this world-class city,” Sperling said.

Among those expected to participate are Gov. Rick Snyder, Mayor Dave Bing, Emergency Manager Kevyn Orr, Michigan’s two senators, and local members of Congess, as well as community, business, foundation, and non-profit leaders.

Additional meetings with other top administration officials will take place in Detroit in the weeks and months to come.

The White House convened a meeting the Friday before Labor Day weekend to discuss Detroit’s struggling finances and to determine how the city could maximize existing federal programs and grants. It was attended by some of Detroit’s most prominent business and community leaders, four cabinet officers and key presidential advisers.

White House officials explicitly ruled out any federally financed bailout or special legislation to support the cash-strapped city. Instead, they pushed for ways the administration could help the city’s business and political leaders leverage existing federal tools to speed the restructuring and soften the blow of bankruptcy.

dshepardson@detroitnews.com
(202) 332-8735

From The Detroit News: http://www.detroitnews.com/article/20130919/METRO01/309190145#ixzz2fPEyVcBG

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