Category: Municipal bankruptcy

Month in Review: May, 2015

26 June, 2015 (10:00) | Blogs, Boston, CalPERS, England, Essential posts, Month in review, Municipal bankruptcy, NIMBY, Parking, Stockton, United Kingdom, Workforce housing, Zaatari | No comments

By: David A. Smith There’s never a straight man in Monty Python — even if one character appears relatively sane, that illusion will shortly be upended.  Too much bull? Similarly, voters in England who might reject the Monster Raving Loony Party could have hoped that among the remainder – Conservatives, Labour, Liberal Democrats – there […]

The curse of the Gray PERL: Part 9, “CalPERS has bullied its way about with an iron fist”

19 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Politics, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 8 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, and Part 7.] Finally, with all the proximate bankruptcy facts (explained in detail in Stockton Judge Christopher Klein’s bankruptcy decision and opinion In re City of Stockton) cleared away – Franklin […]

The curse of the Gray PERL: Part 8, “Promises of higher pensions to get through labor negotiations”

18 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Politics, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 7 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6.] Yesterday’s post having concluded with a Sidebar of Outrage over CalPERS’s exploitation of the duress cities found themselves in after Proposition 13 (explained from material in Stockton Judge Christopher Klein’s […]

The curse of the Gray PERL: Part 7, “CalPERS says the city would owe it $1.6 billion”

17 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Pensions, Politics, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] Now readers fully understand, as laid out by Stockton Judge Christopher Klein’s bankruptcy decision and opinion (In re City of Stockton), CalPERS’ unique position under California law.  CalPERS had a position so […]

The curse of the Gray PERL: Part 6, “The CalPERS obstacles are not effective in bankruptcy”

16 June, 2015 (10:00) | Bankruptcy, California, Federal supremacy, Law, Municipal bankruptcy, Public-employee pensions, Speculation, Stockton, US Constitution, US News | No comments

 By: David A. Smith [Continued from yesterday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] Repeatedly in municipal bankruptcies we’ve examined (Detroit’s past bankruptcy and Chicago’s future one) we’ve seen public-employee union retirees and employees argue that their pension benefits are sacrosanct and cannot be challenged even in bankruptcy.  […]