<nettime> German slumlords in LA

["Patrice Riemens" <patrice@xs4all.nl>]

Bwo INURA list/ Tino Bucholz


hi all,

the article below I would not not consider unexpected but crucial
information on advanced capitalist re/production.

so long..tino



******************************
The U.S.: Where Europe comes to slum

http://www.latimes.com/news/opinion/commentary/la-oe-meyerson-europeans-20110515,0,3990894.story

The newest slumlord in Los Angeles is a pillar of German capitalism.
Earlier this month, the city attorney's office filed suit against Deutsche
Bank, the world's fourth-largest bank, for letting many of the more than
2,000 L.A. homes it has foreclosed on descend into squalor and decay ...
slumming in America is fast becoming a business model for some of Europe's
leading companies, and they often do things here they would never think of
doing at home. These companies ? not banks, primarily, but such
gold-plated European manufacturers as BMW, Daimler, Volkswagen and
Siemens, and retailers such as IKEA ? increasingly come to America (the
South particularly) because labor is cheap and workers have no rights. In
their eyes, we're becoming the new China. Our labor costs may be a little
higher, but we offer stronger intellectual property protections and far
fewer strikes than our unruly Chinese comrades.

http://www.latimes.com/news/local/la-me-bank-slumlord-20110505,0,58791,full.story

L.A. suit calls Deutsche Bank a slumlord
Officials charge world's fourth-largest bank with letting foreclosed
properties lapse into disrepair. Bank officials say loan servicers are to
blame.


.............................
tino.buchholz@udo.edu
........................................

"Even though I have read a lot, I have drunk even more.
I have written much less than most people who write;
but I have drunk much more than most people who drink"

[Guy Debord]


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