Exclusive: Calpers triggers legal fight with bankrupt San Bernardino over pension debt

Comments (3)
BillDexter wrote:

“ a precedent setting case over how creditors, especially Wall Street bond holders and insurers are treated in a municipal bankruptcy.”

Well awright Calpers! Let’s set the precedent that you can just take the bondholders money for yourselves and then, what, try to sell more bonds the next day? Brilliant! A clear and shining example of how forward thinking progressives can achieve fiscal nirvana when they don’t have Republicans in the way.

Nov 28, 2012 7:46am EST  --  Report as abuse
Ideapete wrote:

Interesting . Is Calpers in effect saying ” We will kill the cities ability to service it citizens, in a financial crises that our pension debt caused, if we are not paid in full unlike ALL other creditors .”

Supreme court indeed and my money is on the Feds and what has Stockton got to loose by going there.

Nov 28, 2012 11:02am EST  --  Report as abuse
mstrong1 wrote:

As a former GM bond holder, I know how this will play out.

Nov 28, 2012 2:15pm EST  --  Report as abuse
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