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Excellent post, Prof.

If the judge were to rule that the state has to pay the missing chunk of pension money, I think the city should hire every resident, sign them to a one-day work contract...

Your point would have tons of merit if two things weren't true:
1) Lots of institutions and governments fail to make good on promises, specifically including debt. When deferring any form of...

If the state were forced to pay the city's pension bills, I would do so in legislation dissolving the city's government outright. I would have a state appointed city manager in perpetuity. No sense...

313, I agree with just about everything you posted above, except the last paragraph. The 9 million and change residents of this state who did not elect decades of corrupt and incompetent leaders...

You are totally correct, but in the end retirees can't be paid with Monopoly Money. There isn't the cash in the till, and there is no prospect for it to be. There will never be full payment on...

You're welcome.

Oh, and Steve, your problems with payments to the banks taking precedence over pensioners should be taken up with Congress. Debts owed to ongoing business partners get dibs over former employees, as...

Thankfully, Steve, we have someone like you to bring us an unbiased take on these events...

Detroit can't afford it's pension obligations [[in their entirety; the city can afford partial payments)....