Category: Public-employee pensions

Vote bankruptcy in 2016!

8 February, 2016 (10:00) | Bankruptcy, Chicago, Cities, Homeownership, Housing, Municipal bankruptcy, Politics, Public-employee pensions, Rahm Emanuel, Speculation, US News |

By: David A. Smith   When you don’t pay your electric bill, the company shuts off the power.  When you exhaust your credit card, the company cuts you off.  And when you’re unable to prepay old bond issues, this becomes a problem for you only if you cannot sell new bond issues.  And that is […]

Month in Review: June, 2015

17 July, 2015 (10:00) | Bankruptcy, California, CalPERS, Delhi, Greece, India, Municipal bankruptcy, Olympics, Pollution, Public-employee pensions, Stockton, Urbanization, US News |

By: David A. Smith Thought of the day, courtesy of my most faithful reader: If Vladimir Putin hadn’t wasted $50 billion (yup, billion) creating the instant-white-elephant of Sochi’s Olympics, he would have had the cash to buy Greece out of its difficulties and dramatically upset the European applecart. ”So, Vlady, you got that fifty extra-large […]

It’s nothing personal

16 July, 2015 (10:00) | BRA, Cambridge, Development, Ethics, Governance, Housing, Joseph Tulimieri, Public agencies, Public-employee pensions, Redevelopment agencies |

By: David A. Smith Agent Rogersz: Good evening, Otto. This is agent Rogersz. I’m going to ask you a few questions. And since time is short and you may lie, I’m going to have to torture you. But I want you to know it isn’t personal. Repo Man (1984) I’m with the Ethics Commission To […]

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 |

 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 |

 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 […]