Synder/Kevyn Orr with the half billion dollar oops uh-oh?

[brizee]

http://www.freep.com/story/news/loca...city/80813476/

Unbelievable, but then again with the abject stupidity/callousness the current governor's people have proven and documented themselves to be capable of these last few months, it's not unbelievable.

The news hadn't been posted here for a week.

Innocent slip of the mind of the Snyder cheerleaders I'm sure!

[SyGolden48236]

This is a non-story. Even if the consultants had warned the city [[and we don't know that they didn't) that there was a $490M pension shortfall the city still would not have had the money to cover it without major budget adjustments. The consultants did not create the shortfall. The city has known for many years that they could not cover the pension.

This is in no way Governor Snyder's fault. I realize that the latest fad, for some folks, is to blame Snyder for everything but to pin this on him is utterly absurd.

[mikeg19]

I'm not sure where you make the connection that this is Snyder's fault. If the law firms/consultants used incorrect data, how would Snyder have known that? It's not his job to vet out information, that would be the work of the law firms. If you want to place some blame on Orr, I'll buy that. But vindicating Snyder for this is ridiculous.

[DetroiterOnTheWestCoast]

I used to work in downtown Detroit. One of the jobs was at an actuarial firm. Determining the appropriate actuarial assumptions is the first and most important step in calculating pension contributions and determining the health of a pension plan. ALL of the calculations are a result of the actuarial assumptions. If the advisers who were paid $177,000,000 could not get that correct, they were incompetent or guilty of malfeasance. And who hired them? Snyder's appointees, so yes, once again it is ultimately Snyder's responsibility.

I guess its another example of "running government like a business." An incompetent business.

[Cincinnati_Kid]

I used to work in downtown Detroit. One of the jobs was at an actuarial firm. Determining the appropriate actuarial assumptions is the first and most important step in calculating pension contributions and determining the health of a pension plan. ALL of the calculations are a result of the actuarial assumptions. If the advisers who were paid $177,000,000 could not get that correct, they were incompetent or guilty of malfeasance. And who hired them? Snyder's appointees, so yes, once again it is ultimately Snyder's responsibility.

I guess its another example of "running government like a business." An incompetent business.

You think running a government like a business is bad now, wait until Trump takes over. Can't believe people are voting on emotion, instead of common sense. All this freakin guy does, is condemn people and he hasn't mentioned one plan, on what he's going to do to change anything, besides the stupid building a wall on Mexico comment. This country will really go down the tubes, if he gets the keys to the car.

[jfk]

I used to work in downtown Detroit. One of the jobs was at an actuarial firm. Determining the appropriate actuarial assumptions is the first and most important step in calculating pension contributions and determining the health of a pension plan. ALL of the calculations are a result of the actuarial assumptions. If the advisers who were paid $177,000,000 could not get that correct, they were incompetent or guilty of malfeasance. And who hired them? Snyder's appointees, so yes, once again it is ultimately Snyder's responsibility.

I guess its another example of "running government like a business." An incompetent business.

Problem is Orr knew the numbers being used didn't add up in 2013.

http://www.governing.com/topics/fina...-the-fuss.html

[Baselinepunk]

1/2 a Bill is only about 300 hundred million away from what the "Grand Bargain" had to scrape up as cultural heritage was being ransomed.

Definitely don't trust anyone involved with that deal -- speaking of, how did Judge Rhodes miss this, too? Shouldn't he have caught this??

Is DPS due for another bend over with him at the helm??

[Wesley Mouch]

If anyone was so concerned about a few ten millions before the bankruptcy, I couldn't tell. But now that Snyder stepped in and actually did something for Detroiters [[and against their leaders), somehow he's the goat.

[Cincinnati_Kid]

Quit being a Snyder apologist Wesley. Outside of the bankruptcy, he's even admitted he's _ucked up on quite a few decisions he's made during his tenure. I had a premonition before he was elected, he wasn't the right man to govern this state, and I was correct. He's been a train wreck.

[Wesley Mouch]

Quit being a Snyder apologist Wesley. Outside of the bankruptcy, he's even admitted he's _ucked up on quite a few decisions he's made during his tenure. I had a premonition before he was elected, he wasn't the right man to govern this state, and I was correct. He's been a train wreck.

I like that Snyder has engaged our urban centers. There sure are some train wrecks around -- like DPS. That Snyder pushed them into insolvency and dysfunction is comical.

You are entitled to your opinion -- but I do not agree.

[Cincinnati_Kid]

Just remember Wesley, "The Flint Water Crisis" will be his epitaph. There's no way you can tell me he was oblivious to what was going on.