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Detroit Ruling on Bankruptcy Lifts Pension Protections
[NY Times] In a ruling that could reverberate far beyond bankrupt, increasingly impoverished, reliably Democrat, Detroit... ruled by Democrats since 1962. A city whose Golden Age included the Purple Gang... , a federal judge held on Tuesday that this battered city could formally enter bankruptcy and asserted that Detroit's obligation to pay pensions in full was not untouchable. They'll probably spend as much in court now as they're in debt. The unions won't let that go unchallenged, no matter how reasonable. The judge, Steven W. Rhodes, dealt a major blow to the widely held belief that state laws preserve public pensions, and his ruling is likely to resonate in reliably Democrat Chicago, aka The Windy City or Mobtown Posted by: Fred 2013-12-05 |
| http://www.rantburg.com/poparticle.php?ID=381050 |