http://www.bloomberg.com/apps/news?pid=20601087&sid=alL.wJ2mO_Bo&refer=home
“Defined benefit plans have bankrupted Detroit, bankrupted the airlines. If we don’t do something about it, it will fundamentally bankrupt municipalities,”
In my top 20 for 2009 I talked about the war over pensions this is the just the start. Cali and the Governor are having massive heartburn for the mismanagement of CALpers and the problems it will cause.
Friday, January 30, 2009
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