Nearly a month has passed since the U.S. Treasury Department said “no” to a rescue plan to shore up the finances of the failing Central States Pension Fund, which covers some 400,000 participants.
By Nathan Bomey, Matt Helms and Tresa Baldas, Detroit Free Press DETROIT — Detroit’s most vociferous bankruptcy opponent said Wednesday the city cannot legally justify treating pensioners better than financial creditors and said it wants to be paid 75 percent of what it’s owed. In a dynamic exchange, Bankruptcy Judge Steven Rhodes demanded that Marc […]
David Cay Johnston stopped by MSNBC’s The Last Word with Lawrence O’Donnell on Tuesday, to discuss Governor Chris Christie’s plan to cut post-retirement health care benefits and pensions. “This is thievery,” Johnston explained. “This is just a subtle, delayed form of stealing wages from people who did the work they were hired to do and […]
Embattled New Jersey governor Chris Christie has come out foursquare for wage theft. As reported Sunday by Karen Tumulty of The Washington Post, Christie met with 200 citizens at the Jersey shore last week and, regarding state worker retirement benefits, declared: “Promises were made that can’t be kept… Welcome to the real world, folks.” Tumulty […]
By Alana Semuels, Los Angeles Times DETROIT — In the year since this city filed for bankruptcy, becoming the largest municipality ever to do so, leaders have adopted a more optimistic tone about the future, pledging to fix streetlights and attract new residents and jobs. But Eric Byrd isn’t buying it. “No change round here […]
The media would label it Pensiongate — if they were interested. When Governor Chris Christie (R-NJ) cruised to his first statewide election victory in 2009, his promise to responsibly manage the state’s pensions helped deliver him the governor’s mansion. It’s Democrats like Governor Jon Corzine who are playing fast and loose with public pensions, the […]
By John Reitmeyer, The Record TRENTON, N.J — Embedded Tuesday in New Jersey Gov. Chris Christie’s somber talk about pensions — a mind-numbing topic — was a sharp pivot reflective of a dramatically changed political moment. Christie has regaled audiences across the country with stories of how he teamed up with Democrats and pulled New […]