Wednesday, December 04, 2013

Understand the union secretly schemed with corrupt city officials to "agree" on unaffordable contracts--------- Bankrupt Detroit can cut pensions; big implications for California

The union leadership is elected, supported and paid by the union members.
They destroyed a once great city.
They all conspired against the taxpayers.
They thought they had "no skin in the game".
Turns out they did.
Bummer dudes and dudettes.
And when their game collapsed, they expected a bailout.
It ain't gonna happen.
Hopefully.
Bankrupt Detroit can cut pensions; big implications for California - Business - The Sacramento Bee:
"In a case with major implications for California, a judge today ruled that the bankrupt city of Detroit can impose cuts to its municipal pension plans.
The ruling by U.S. Bankruptcy Judge Steven Rhodes could help bankrupt San Bernardino in a potential legal showdown with CalPERS over the sanctity of employee pensions.
According to the Detroit News, the judge said pensions are essentially the same as any other contract, and “it has long been understood that bankruptcy law entails the impairment of contracts.”"

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