Stockton, CA becomes most populous U.S. city to file for bankruptcy, setting up pension fight. “And, here’s where we run into an issue that will reverberate around the country. What wins out? Federal bankruptcy law, which ostensibly allows for the tearing up of contracts (even pension promises) or state and local laws, which protect pension promises?” Not the USA but the USB – United States of Bankruptcy.
Author: Bonfire of the Absurdities
After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.
View all posts by Bonfire of the Absurdities
