State bankruptcy as a tactic to destroy public sector unions and eat their pension plans

it's a terrible thing to feel ashamed of your own country, but after watching private sector unions, pension plans and jobs being lobotomized by the corporate strategy of declaring bankruptcy, i don't have the stomach for this...

Path Is Sought for States to Escape Debt Burdens

Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Unlike cities, the states are barred from seeking protection in federal bankruptcy court. Any effort to change that status would have to clear high constitutional hurdles because the states are considered sovereign.

oh, yes, it's perfectly ok to toss trillions of dollars to the banks to bail them out after they lost big in the wall street casino, it's perfectly ok to throw trillions of dollars at a war in iraq waged under false pretenses, it's perfectly ok to keep throwing trillions of dollars at the war in afghanistan while watching billions of it fly out of kabul in the satchels of corrupt warlords to be deposited in their personal accounts in dubai, it's perfectly ok to allow homeowners to lose their homes in fraudulent foreclosure proceedings, it's perfectly ok to let u.s. employers continue to export jobs overseas while our real unemployment hovers above 15%, but is it ok to bail out our cities and states and the people who serve them, the people who are reaping the ass end of the financial rape and pillage of our economy...? hell, no...! let the bankers keep their stratospheric salaries and bonuses but when it comes to a public employee and his pension...?

i'm so fucking disgusted with my country...

Submit To Propeller
Tweet