JPMorgan Committing $100 Million over 5 Years to Aid Revitalization in Detroit

Steven Yaccino and Jessica Silver-Greenberg, New York Times, May 21, 2014

JPMorgan Chase, the nation’s biggest bank, will provide $100 million to help debt-ridden Detroit with housing repairs, blight removal, job training and economic development projects over the next five years, according to two people with direct knowledge of the plans.

The investment, a mix of loans and grants, will add to a growing pile of money from outside private institutions as the city nears the final, painful stages of the nation’s largest municipal bankruptcy proceeding. Detroit filed for bankruptcy protection in July, with an estimated $18 billion in long-term debt. This summer, a federal judge will decide whether to approve a plan that would allow the city to exit bankruptcy court by mid-October.

In recent days, the city has been lobbying to secure nearly $200 million in funding from Michigan lawmakers, who are wary of setting a precedent by using taxpayer dollars to bail out a major metropolis. If approved, the state funding would be part of a so-called grand bargain that would also include hundreds of millions of dollars from philanthropic foundations. The money would be used to cushion pension cuts for Detroit retirees and avert the sale of the city’s art collection. The Legislature is weighing a package of bills regarding the outside funding this week.

{snip}

“The city’s challenges remain significant–unprecedented, in some regards–but JPMorgan Chase believes that Detroit has the ingredients and intrinsic strengths to reshape and rebuild a dynamic modern economy and make the city a great place to live, work and invest,” said a company document detailing how the $100 million would be spent, which The Detroit Free Press posted online on Tuesday. “We are committed to helping make that future a reality.”

The bank will direct half of the money to community projects that would otherwise lack access to capital. It will put $25 million toward assisting groups like the Detroit Land Bank Authority and the Detroit Blight Removal Task Force, which have begun aggressive demolition campaigns to rid the city of its estimated 78,000 vacant structures. The rest will be diced up: $12.5 million for work-force training, $7 million for small-business assistance and $5.5 million toward economic growth projects such as a new streetcar system.

The company announced another five-year initiative in December that infused $250 million into Detroit and other big cities for job-skills training. {snip}

Goldman Sachs, another bank that has been buffeted by regulatory woes, pledged $20 million to Detroit in November for job creation and economic development.

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  • dd121

    I’m not a banker but I don’t think 100 million will touch it. Does that include replacing the natives with more civilized humans?

    • JohnEngelman

      Yes. I am afraid it does.

    • 4321realist

      “Does that include replacing the natives with more civilized humans?”

      It doesn’t, of course, which means no matter how much JP Morgan, Obama or anybody else gives them, the reason for Detroit’s failure will still be there.

      And 100 million is a drop in the bucket considering the depth of their deterioration.

      It makes a person wonder why they don’t dedicate that money to something that will really help someone instead of throwing it away on blacks who blame anything and everything for their incompetence.

      • dd121

        Exactly. I was being factious.

        • DennisDale

          Hang on now. There may be an expectation of gentrification on the part of some donors. Of course, Detroit’s city council will fight that tooth and nail.

        • 4321realist

          Yes, I understood that.
          I got a bit of a chuckle out of it too.

    • QuinnTheEskimo9

      They’ll be replaced by Chinese. See my comment below.

    • ligersaurus

      Even if 179 more JPMorgans step up and contribute $100 million each, the debt will be paid off, but the city is still run by the most corrupt city council in the US. Decades of Democrat mayors ran a once great city (I grew up there) into the ground, taking all they could and doing nothing to improve anything. In their wake, they left a city council that still games the system at every turn. Almost as scandal-ridden as the White House.

      • Strider73

        Ironic that the list of money-throwers does not include the Pistons. They hightailed it to Auburn Hills long ago and have zero intention of returning.

        • obot

          I don’t blame them.

    • Reverend Bacon

      My thought, too. I wondered when I saw that headline, “how much can one neutron bomb cost?

      • The US has dismantled all of its neutron bombs, but turning off their electricity, natural gas and water would work, together with stopping food deliveries.

        • Reverend Bacon

          Yes, including electronic “food deliveries” to their EBT cards.

          I really think that if you got rid of all the blacks, and left the blight, but built no new housing projects, the Invisible Hand of capitalism would fix Detroit in 10 years. You wouldn’t even have to explicity discriminate- just make it a “no welfare, low tax” zone, and certain demo groups would vacate in a hurry. Instead of pouring government money on it, like they do, they need to cut off the current flow of EBT, SNAP, Section 8, etc. Tax incentives, maybe, but don’t tie it to anything that’s skewed towards blacks, like “Affirmative Action.”

          You’d have to fire the whole city government, because that’s welfare in disguise, and they would be an impediment to rebuilding with their zoning permits and other 3rd world baksheesh schemes.

          • dd121

            If you flush ’em out they’re going somewhere. Maybe to a neighborhood near me.

        • dd121

          Don’t do that, it might flush ’em out.

    • TruthBeTold

      Watch for the estimated amount to increase over time.

      In the end, when this fails to do anything, we’re all going to pay for the cost when JPMorgan lost.

    • JackKrak

      I don’t think anyone has “invested” in Detroit, in the true economic sense of that word, since the early 1960’s.

      Lottery tickets or splitting three’s against an ace are a better “investment” than anything Detroit has to offer.

    • blight14

      If that was the case, it wouldn’t require any more money than to cover the actual physical costs of removing the negros…..once the whites moved back in, Detroit would revitalize itself.

      • dd121

        It would help Detroit but destroy wherever they moved the negroes.

  • I sense the hidden hand of Barack H. Obama II in the background.

    No skin off my back, though. I have no personal business with either institution, and they’re both Obama crony capitalist whores, so they both get what they deserve.

    • NeanderthalDNA

      $100 million dollar PR campaign.

    • jane johnson

      There’s more going on here than meets the eye. JPM was the bank of note for Florida’s unemployment program, and I assume, other states as well. Let’s just say that there were a lot of “irregularities”, and JPM is no longer involved in UE, but their name is still on FL’s EBT cards. They’ve been fined heavily by FedGov, and I think that their “generosity” will probably be rewarded by a steep reduction in the penalties they will pay.

    • ViktorNN

      I had the exact same thought.

      This reeks of a behind the scenes deal to get JPMorgan off the hook of some sort of regulatory scrutiny in exchange for keeping Detroit afloat for another decade.

  • JohnEngelman

    For gentrification to work there has to be at least one source of well paying jobs that attract the kind of people who have a low crime rate. Then there needs to be an effective criminal justice system to protect those people from the kind of people who commit lots of crimes.

    Until these two factors are in place money thrown at the problem is ineffective.

    • I don’t think the jobs per se are crucially necessary, they need not be in the jurisdiction that is being gentrified. I think one necessary element to urban gentrification is some numismatic attraction. I also think there needs to be a base of an already good neighborhood where the gentrifiers can launch their efforts. Detroit has Boston-Edison, but not much else.

    • jambi19

      No doubt a substantial amount of this money will be spent on hospital and university jobs. That seems to be how many of these decaying socialist union democrat cities such as Boston, Philadelphia, Pittsburgh, Cleveland, Baltimore and now Detroit create any tax base.

    • Berkeley Guy

      Perhaps the gentrifiers can actually bring in new jobs by taking advantage of the existing conditions. There exist some quite pioneering gentrifiers out there who are not afraid to rebuild. I graduate in December, I might even consider it, although I can’t promise anything–too many other nice places to live to choose from.

    • Oil Can Harry

      JP Morgan keeps saying they’re gonna spend $ on “job training programs”.

      But what good is that if there are no jobs to be trained for?

      Or if a large % of blacks prefer welfare to honest work?

  • dcc2379

    Is the plan to wall in all of Detroit and its inhabitants and forcefully repatriate them to Idi Amin’s fiefdom, and then they import those of a Nordic background?

    This also exposes the oft repeated liberal lie, which has ensnared many a right winger: Big Business is not and never will be in the tank for Republicans, for Big Business craves regulations and policies that their lobbyists write and pay for.

  • Homo_Occidentalis

    Detroit has the “ingredients and intrinsic strengths” to make a good sugarcane plantation, not a first-world city.

    A demographic that is 80% sub-Saharan black is not conductive to a safe and prosperous community.

    • bilderbuster

      It could be if we import South African Whites to run the place.

  • Tom Thumb

    $100 million – All I can hear is a giant sucking sound down a black hole.

    • Oldcorporal

      VERY black.

      • gemjunior

        LOL. Verrry black..

  • JSS

    What a shame. The Serbs could really use some help seeing as how half their country is under water but they are White so the non eskimo bankers could care less. The only thing worth investing in for Detroit is a containment wall.

    • bilderbuster

      America’s “First Black President” Bill Clinton gave Serbia their aid in the form of DU Bombs.

      • Depleted uranium is not used in “bombs”, but in solid shot armor-piercing anti-tank cannon ammunition. Even anti-tank missiles do not use DU, but instead use explosive hollow-charge warheads. DU is used for this because it is very dense. In fact with a specific gravity of 19.1, it is almost as dense as pure tungsten (19.25), but pure tungsten can not be used in kinetic energy penetrators because pure tungsten is too brittle, and must be alloyed with other things, which greatly decrease the density. A typical DU penetrator is 99.25% uranium-238. The rest is usually molybdenum, which at a density of 10.28 would result in a specific for the projectile of right around 19.0, considerably greater than for a tungsten alloy kinetic energy penetrator.

        Depleted uranium also forms adiabatic shear bands as it penetrates armor material. In short, it mushrooms much less than tungsten alloys, which combined with its greater density results in superior armor penetration.

        • bilderbuster

          I can’t argue with that but the Serbs have claimed NATO used DU on them.
          I knew it was used for anti-tank weapons and took it upon myself to to use the term bomb.
          Any insight you can offer as to what kind of weapon could have been used to deliver DU on Serbia would interest me or is Serbia making a false claim?
          The US military admits it used DU in Iraq.

          • We did use AH-64 Apache helicopter gunships there. Now, the usual anti-tank loadout for an Apache is eight or 16 Hellfire missiles. If only eight missiles are carried, 38 unguided 70mm rockets can also be carried. The Hellfire is great against tanks and the rockets are ideal for unarmored vehicles, but the Apache also carries a 30mm chain gun with 1200 rounds of ammo underneath the cockpit. This fires the same 30mm cartridge as the French “Defa” and British “Aden” aircraft cannon, and depleted uranium ammunition is available for this. It does the thin armor on troop carriers and on top of tanks a real treat.

            The 30mm gun/Apache helicopter combination is my best candidate for the use of DU there. Believe it or not, the very slight radioactivity of U-238 means the radiation hazard to humans is minimal. The half-life is 4.5 billion years, while people only life to be 70 or 80. Not much of it will have decayed, espacially as the residence half-life in humans is only two weeks. It certainly would not have enough time to release radioactive energy before an individual has died of other (natural) causes, even if it were not excreted by the body. The health problem is that uranium is also a toxic heavy metal. Unfortunately, the tungsten-cobalt and tungsten-nickel-cobalt alloys used in other types of anti-tank solid shot are even more toxic. Even good, old-fashioned lead-cored rifle ammunition produces toxic effects, especially once the lead is in groundwater.

          • bilderbuster

            That is helpful and interesting thank you.
            I was pretty sure the health concerns were due to DU being a heavy metal though.
            You bolstered the small amount of seriousness that DU was most likely used against Serbia in my above sarcastic post and that I had incorrectly identified the method of delivery.

          • I came up with a with a way to produce polymeric tungsten carbide, but nobody wanted to hear about it.

          • bilderbuster

            You lost me…
            You would have to explain it’s use to me in laymen’s terms.
            Would that be ammo that is less poisonous than lead shot?

          • It is a form of plastic harder than steel. I also did adamantine phase carbon and boron nitrides. I’d get nothing and some already-wealthy plutocrat would have all the money. I’m happier at home.

            The usual refrain is “But… you have to do that for your country.”

            My country sent me to federal prison for three years over a quarrel over patent money, so I will *NEVER* do any work in that field again for any amount of money. I would want my gun rights back first.

          • bilderbuster

            I don’t blame you one bit even though the product could have all kinds of benefits for mankind.
            I’ve read of others who have suffered horrible things and even death over patents or computer programs.
            The US government is dangerous and out of control!

          • My blood pressure after six years of working for moderating moderated moderapes was 175/105, which is Stage-2 hypertension, at the age of 30. At age 48, it is now 85/45, which is too low for me to donate blood. I didn’t need any medication; all I had to do was stop working for those people.

            The best boss and thus the happiest time at work I ever had was working for Howard Short. I was morning manager of a Subway sandwich shop he owned. I made sandwiches and not new materials.

            Before I go back to my old field, I would have to insist on a written contract that would give me half of the net. Otherwise, the world can just moderate themselves.

  • Oldcorporal

    J. Pierpont Morgan, THE J.P. Morgan, is doubtless turning over in his grave at this. Oh, and did they say “blight removal”? Does that mean that they’re going to ship the black majority back to the South?

    • Pro_Whitey

      Don’t stop until you get them to Africa!

  • Do not do business with J P Morgan Chase. Cut up their credit card and pull your money out and let them know why.

    The banking business is built on conservative, prudent, banking principles. This nonsense is just a giant donation to a pet Democrat Party cause.

    Find an old-fashioned prudent banker or a credit union and do business with them. And say goodbye to these clowns with a loud “gibbledegookoookughmofo nomesayin.” Let J P figure out what it means.

    • ricpic

      It’s protection money.

  • bilderbuster

    That’s just a small payment of gratitude to Obama and Holder’s friends in Detroit for the Feds letting them keep the tens billions of laundered drug money profits they were caught with where they were fined a few million and no one went to prison.

    • Tim_in_Indiana

      That explains a lot!

  • r j p

    And all the Detroit city officials applauded JP Morgan Chase, because they know $50 million of it is going into their pockets, and the other $50 million will trickle back via kickbacks and through companies they partially own.

    • This is the kind of graft/gibs that will make a black get outta bed.

  • connorhus

    Short JPM

  • willbest

    I wonder what byzantine regulatory scheme they bought with this. Or perhaps it was just to pay to make sure the SEC didn’t look too closely at some transaction.

  • When did stupidity, sloth and criminality become “important strengths”?

    • QuinnTheEskimo9

      Oh, I’d say about the time LBJ became president when those qualities became more admired than taking care of oneself and family without government help.

    • jane johnson

      At the same time as diversity.

  • Ahnenerbe ᛟ

    It’s all a scheme, most of the money will be lost like the Haiti relief money scheme

    • Doubtless the depositors and shareholders who’s money is being wasted in this fashion will be delighted.

    • benvad

      Give the money to Dominican Republic to take charge over Haiti. They’ll just increase their caste system over the entire island of Hispagnola.

  • jane johnson

    Detroit should let the Clintons administer the funds. Just look what a great job they’ve done in Haiti, and the demographic is about the same.

  • Hope that is not going to be a lost cause. Detroit needs some big time help but I don’t think money alone will fix there issues.

  • So CAL Snowman

    No wonder the big banks needed to be bailed out by We the White People with such enterprising capital investments like this. What’s next $23.5 million to circumcise africans in Swaziland?

  • Who Me?

    I could save them a lot of money. Just build a fence around the place and set it on fire.

    • Strider73

      Or employ a few fuel-air explosives. Detonated under the right weather conditions, a FAE will cause destruction comparable to a tactical nuclear warhead, but without the radiation or fallout. No point in contaminating next-door Windsor, Ont. for something it had no part of.

    • Do you mean a fence around the money or a fence around Detroit? Either would work, but each on a separate criminal group.

  • bilderbuster

    $12.5 million for work force training?
    It must cost a fortune to teach Blacks to use shovels and brooms!

    • Strider73

      The expense comes from translating the instructions on the shovels and brooms into Ebonics.

      • bilderbuster

        Yeah the instruction manuals can be pretty complicated.

        • Unfortunately it is too late to bring in Barbara Billingsley to translate the manuals into Black English.

          • benvad

            Airplane! Ha!

          • That scene would probably be cut today as ‘hate speech.’

    • benvad

      Training? What can you teach to a person who can’t learn?

  • Luca

    Perhaps they’ll have enough funding to plow the entire city into the ground and let all those aspiring Pigford farmers turn Detroit in to one large watermelon patch..

  • QuinnTheEskimo9

    JP Morgan and Michigan’s governor are cleaning up the city for the Chinese.

    The current denizens will be shipped off to other cities to turn them into Detroit. Reince and repeat across the nation.

    From here, http //theeconomiccollapseblog com/archives/will-detroit-be-the-first-major-chinese-city-in-the-united-states

    Will Detroit Be The First Major Chinese City In The United States?

    — Is Detroit destined to become a Chinese city? Chinese homebuyers and Chinese businesses are starting to flood into the Motor City, and the governor of Michigan is greatly encouraging this. In fact, he has formally asked the Obama administration for 50,000 special federal immigration visas to encourage even more immigration from China and elsewhere.

    — So will Detroit be the first major city in the United States to be dominated by China? It could happen. Once upon a time, Detroit was the greatest manufacturing city in the history of the world and it had the highest per capita income in the entire country. But now it is a rotting, decaying, bankrupt hellhole that is in desperate need of a savior, and Michigan Governor Rick Snyder appears to be fully convinced that China can be that savior.

    • Maybe China can help us become even more overpopulated even faster.

  • Dave4088

    As long as black African DNA is omnipresent in the motor city it doesn’t matter how much money they spend. But this whole thing smells like an Obama-Holder-NAACP shakedown.

    • Dr. DA

      Totally agree.

  • Ike Eichenberg

    If I filed bankruptcy, I don’t think the judge would humor my request to keep an art collection and stiff the creditors.

  • Dr. DA

    This so called “investment” to revitalize Detroit is a fools dream. The same cast of criminal thugs who placed this city in peril will still be there.

  • Garrett Brown

    Wish i could have that 100 million. I’d give it to poor white kids

    • Dr. DA

      There are no poor white kids!
      Haven’t you heard the Marxist fable of White privilege?

  • FozzieT

    The black population of Detroit is 700,000. An Adult, one-way Amtrak ticket from Detroit to San Francisco is about $200. With JP Morgan’s $100 million, we could send nearly all of Detroit’s black population to Nancy Pelosi’s backyard, where they will be welcomed with open arms.

    • MBlanc46

      I think you’ve got a plan there.

    • One of the things that saves SF is its limited land area, driving up rent, so not everyone can afford to live there, even bums.

      • FozzieT

        Oh, but the gracious, big-hearted, nonjudgmental, diversity-loving liberal San Franciscans will gladly welcome their new, diverse population! I’m sure they will gladly vote to raise taxes on themselves to provide all sorts of social services and housing to the “refugees” from Detroit!

        • Yes, I’m sure Nancy and Dianne will be arm-wrestling over who gets the most as neighbors on the streets where they live. (If they can get past the high walls, the reinforced gates, the electronic sensors and the concentric rings of well armed security.)

      • Strider73

        So send the excess to Oakland. They would fit right in.

        • Good idea, and the crime rates are comparable. Hmm, wonder why Governor Moonbeam didn’t solve that when he was mayor of Oakland.

      • benvad

        We have to figure a way to get section 8 housing in Nancy’s neighborhood.

        • Yes, Nancy is being deprived of her fair share of vibrancy and rainbowness.

          • cherrie greenbaum123

            It’s a rich, cultural diversity quilt she needs to be wrapped up in.

          • Yes, very securely.

  • Whirlwinder

    MF Global has pioneered the use of customer dedicated funds to pay off its debts, and nobody got thrown into jail. So, JP Morgan/Chase can throw good money after bad with no liability. I am no banker but if Detroit were a homebuyer and wanted a mortgage, I would drop them like a hot potato. There is no future in investing in Detroit. FedGov must be strong arming them.

  • OhWow

    Ingredients like…white people? No, they left a while ago.

    • MBlanc46

      They’re still there, in the suburbs. $100 million ought to be enough to get some of them to come back. The most important thing is for whites to run things.

  • rowingfool

    $100,000,000/333,000 detroiters=$300 per detroiter over a period of 5 years = $60 per detroiter per year.

    A vague intuition tells me that this won’t solve Detroit’s problems.

    But OneHundredMillion sounds like a really big number to the average man on the street. You can just hear him saying; “Geegolly, JPMorgan sure has a big heart! Philanthropy!”

    • Steven Bannister

      Yes, but the money isn’t spread out over EVERY Detroiter. It’s focused in certain areas and specific projects.

      • rowingfool

        We all know that.
        %50 will go to those writing the grants and deciding towards what purposes the money should be directed.
        %30 will go towards salaries of those appointed to administer the programs conceived by the above.
        %15 will be chewed up by necessary expenses like 15 passenger vans and printer cartridges.
        %5 will go to the poor slobs actually performing some tangible function.

    • Anna Tree

      Decades of philanthropy (they don’t give to individuals like Steven Bannister said), when will it be enough before at last people accept the truth? That, like Prof. Rushton explained, “Genes, keep culture on a leash.”

      They should follow a scientific experiment: for every million given to a poor black neighborhood, let’s give a million to a poor white neighborhood as a control group and see what happens. The neighborhood that improves, should get the remaining 99 millions. Deal?

  • MBlanc46

    “JPMorgan Chase believes that Detroit has the ingredients and intrinsic
    strengths to reshape and rebuild a dynamic modern economy and make the
    city a great place to live, work and invest”.

    They’re right. If they put the white folks in charge again.

    • Evette Coutier

      Detroit’s ambassador bridge is the world’s longest bridge. It goes from Canada to Africa.

      • benvad

        The should fill the water with crocodiles to keep the primitives on their side of the bridge.

  • IstvanIN

    Sell your JPMorgan Chase stock.

  • Anon

    Why not? During the Clinton era, he gave the Haitians a cool $1 million for every single man, woman and child on that half of the island.
    Is this a bad thing though? Money is the way white people are kept from having a day of rope and setting things aright in every white nation (not to mention quite a few non-white nations) on the planet.
    When it fails, so does the power of those who fancy themselves our masters.
    More to the point, every white person will be FORCED to stop doing whatever nonsense they are doing, right friggin NOW and attend to survival.
    Do I really care what goes on in Detroit (I mean before whites eventually ethnically cleanse it).
    What I care about is my “neighbors” refuse to cooperate in acting towards mutual self interest. And they do it because their VISA cards purchase them enough bread and circuses that they feel the rest of us can just go to hell while they get high and watch TV.
    When that VISA card (not to mention all the EBT cards) show a big fat error message because our money has collapses under the weight of “Detroit” and the like, they will either act…..or die. At this point, I’m not sure I care which.

  • WR_the_realist

    This will work as well as Mark Zuckerbeg’s $100 million donation to Newark’s school system. Are the elites really this dumb, or are they just throwing away what for them is pocket change in order to look good?

    • Strider73

      Two words: Tax write-off.

      • SoulInvictus

        That was my first thought too.
        There’s either a tax break, a reciprocating back rub from Dems, or some other upside to this for them.
        Nobody is stupid enough to just dump that much cash into Detroit without some strings. Well, no one but the Feds anyway.

        • SlizzardAjeosshi

          There’s either a tax break, a reciprocating back rub from Dems, or some other upside to this for them

          I think you nailed it with this one: it’s just a legal way to grease politicos and their business acquaintances

    • George Washer

      This is a political payoff.

      Nobody in their right mind really things throwing cash at blacks will improve them. I give the elites enough credit for this.

      But we have a black president, so to keep the regulators off your back you have to spread a little payola to a black city.

  • “JPMorgan Chase believes that Detroit has the ingredients and intrinsic strengths to reshape and rebuild a dynamic modern economy and make the city a great place to live”

    Sort of like saying the Sahara has all the ingredients to create a springtime meadow like those in Yellowstone.

  • Michael Mason

    Detroit lacks the ONLY ingredient necessary to sustain a civilization, and that is a population with racial quality.

  • Funruffian

    Banks are run and operated by retarded dorks. A farewell to 100 Million!

  • Dale McNamee

    No bailout for JP Morgan Chase when this goes south…

  • George Washer

    $100 million over 5 years – which is 20 million a year.

    This sounds like someone black in power cut a deal with JP Morgan, and this was the giveback.

    This is of course a bad investment, and a drop in the bucketload of cash needed to fix Detroit – money which would of course have to include getting blacks to move out – if you really wanted to fix the city.

    • cherrie greenbaum123

      Just an FYI: Most blacks wouldn’t be able to do the division in your first sentence. Nomesayin?

  • none of your business

    The single best predictor of violent crime in every US state and DC is the percentage of the population that is black or hispanic. It’s a 0.81 correlation, compared to a 0.35 correlation for level of poverty, 0.36 for education & unemployment figures.

  • Peter Connor

    How does paying the pensions of retired useless public workers help Detroit? This whole thing is a scam.

  • MekongDelta69

    This is just shakedown money, extorted by black race-hustlers.

    • Budd Smith

      I truly doubt that. No way one of the most powerful Jewish run banks would be shamed into parting with 100 million. However there’s no doubt about anti-White motives though.

  • none of your business

    “but JPMorgan Chase believes that Detroit has the ingredients and intrinsic strengths to reshape and ”
    Better spend that 100 million relocating the blacks somewhere else. Perhaps rent a few thousand acres of a remote Indian rez. Then give the tribal police and council full responsibility to control them.
    Problem solved.

  • scutum

    I am starting an initiative to increase employment in my neighborhood. I will be asking J.P. Morgan, Goldman sachs and the other banksters to deposit some of their ill gotten gains into my checking account. I will then increase local employment by stimulating demand through my excessive spending. Whats good for Detroit is certainly good for neighbors and I.

  • LACountyRedneck

    Let’s see. Which would be more productive? Investing $100M in Detroit, or purchasing $100M worth of one-way (no return) tickets to SA?

  • Ike Eichenberg

    Hadn’t considered that, but when it comes to Africans and corruption ANYTHING is possible.

  • bubo

    This is literally pocket change for a big bank like Morgan. Can’t say why they’re doing it, though. Probably some back room deal worked out by Obama and Holder to keep the “black metropolis” running for a couple years.

  • Herman

    Wouldn’t it be smarter (and quicker) just to burn the money instead? Same end result.

    Plus this way the “community activists” won’t be able to get their hands on the money.

  • cherrie greenbaum123

    Zimbabwe would perhaps be a better choice.

  • Budd Smith

    Detroit is much more like a zoo than a city. A city is self sustaining, and generates enough wealth to maintain the infrastructure. A zoo relies on donations and property taxes from the surrounding cities. Detroit is a negro habitat, and just as dangerous in most areas as walking through the gorilla habitat at the zoo.

  • Budd Smith

    They’ve done that in the downtown area around Wayne State University. It’s very heavily policed because most of the students are white suburbanites. I attended there 4 years taking night classes, and never saw any crime. Just the occasional begger. The residents must know that they would be given special treatment, at the request of the mayor, for screwing with one of the few moneymaking areas of Detroit.

  • LIBERTYSINCURSION

    Another $100,000,000 dollars flushed down Detoilet!

  • CelestiaQuesta

    Haiti should be their model.

  • fgbrunner3

    Detroit is the end product of Democratic Party rule.

  • kikz2

    y’all do know.. JPMC handles all of EBT/SNAP, right? all of it.

    http://www.thedailybeast.com/articles/2012/10/01/jp-morgan-s-food-stamp-empire.html

  • obot

    That’s like putting granite countertops in a house infested with termites