So now it's in writing. Can we get a little crow-eating on this conspiracy that Herr Sneider was here to protect Wall Street? If this is protecting Wall Street, I can't imagine what it would've looked like without the protection....

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On a related note, initial studies put pension funding at 82% of necessary obligations, leaving 18% unfunded. So when Orr proposes to pay 10 cents on the dollar toward pension obligations, am I incorrect to conclude that he is offering 10% of the 18% = 1.8%...which added to the 82% = 83.8% of pension funds available for retirees?

If the worst thing that happens to retirees is that they take a 16.2% haircut on their pension, that sounds like a much more advantageous position to, oh, the banksters, who will be seeing a 90% haircut.

I'm open to hearing that my math or interpretation of the proposal is incorrect, so let's hear it.

CTY