Pension Meltdown
San Bernardino Takes on Calpers Again
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  • bigfire

    It’s time like this Calpers resembles nothing less than the protection rackets in the movie Goodfellas: https://www.youtube.com/watch?v=3XGAmPRxV48

    Warning, the video is not work safe. Language is appropriate for the mafiosos, not unlike Calpers.

  • Andrew Allison

    You neglected to mention that what Detroit eventually did was cut a sweetheart deal with the Unions at the expense of the bondholders.

  • SAWZ

    CalPERS is an arm of the State of CA–not a standard creditor. That is why it is important that CalPERS not cave in–no negotiating–if it did that, the fund would be wiped out in a few years.

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