#4
Maybe they can convince nervous Russians to buy bonds, like the gullible one's who bought the stuff in Greece and Cyprus cause anyone else with an once of sense wouldn't touch the paper. Better to blow the money in Vegas, at least there you had some chance of return, little, but some.
#5
I read the details of the benefits, especially lifetime health care for all retirees no matter how long they worked for the city. If I were a money fund manager and lender, I would never -- NEVER -- buy another penny of Stockton municipal bonds until all that got changed. Which I don't think it will given the way this has been handled.
Posted by: Steve White ||
04/01/2013 19:47 Comments ||
Top||
#6
FORWARD to the Stocktonification of America.
FORWARD to the Detriotification of America.
Does Vegas have betting lines on which city is next? Maybe it is time for some mayors and union leaders to double down and hedge their bets.
#9
I guess if the pensions and benefits can't be canceled by bankruptcy then somebody has to pay, and if the city doesn't have it, they'll just have to raise taxes. Of course that will eventually chase everyone BUT the city employees and pensioners out of town; then they can just pay themselves, I guess. (No, Uncle Sam - you & me - will bail them out.)
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