BOARD PASSES $48 M, 5-YR. EMA CONTRACT TO CUT 81 % OF DETROIT WATER WORKFORCE

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Then Detroit CFO Sean Werdlow, SBS rep Brian Doherty, Fitch Ratings’ Joe O’Keefe, Standand & Poor’s Stephen Murphy and Deputy Mayor Anthony Adams pressure Council to approve disastrous $1.5 billion pension obligaton certifcate loans Jan. 31, 2005. Werdlow is now a managing partner of SBS, which conducted workshop for BOWC Aug. 29 stressing need for rate increases and more debt. UBS is one of several companies being sued by Boston and other municipalities for fraud for manipulating interest rates before 2008 economic bust.


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