Days after Detroit declared bankruptcy..

[dabuffguy]

this thread should file bankruptcy....

No,


We should sticky it instead.

 

[redsamurai]

Rocket Surgery?
Or brain Surgery?

In some respects I have to agree with SD. The pensions of the collecting folks were being paid for by monies collected from current workers. The number of current workers does not pay for the number of people collecting a pensions.

I think what new York did is grant a combination of pension and 401k, so half or more of their retirement is an elected contribution from the workers pay check.

But New York still has a bigger debt then Detroit , so not sure if it's working

I agree with this wholeheartedly, the pension system in this country sounds alarmingly like a ponzi scheme and it was concocted in the era of unlimited irrational exuberance. lol
And I agree with SD that if the money isn't there the money isn't there. But apparently there's money for a "sports" stadium overhaul, so there's money to cover these people. To just say "well that's tough but we couldn't possibly say no to Mr Little fucking shitty Ceasars"....there's something fundamentally immoral and outright crass about that.

 

[puddlemonkey]

They were talking about building a stadium in New Orleans just before they drafted Drew Brees

Saints didn't draft Drew Brees

 

[gjohnson5]

Saints didn't draft Drew Brees

You know what I mean......
They got him in a trade

 

[mrplunkey]

Since when is a defined benefit plan like health insurance? The straw grasping is strong with you, my son.

Future benefits established by legislation would always be subject to change, otherwise one legislature could bind future ones.

Plus Detroit is filing for bankruptcy, so any of its contracts are subject to change.

 

[75th]

Rocket Surgery?
Or brain Surgery?

In some respects I have to agree with SD. The pensions of the collecting folks were being paid for by monies collected from current workers. The number of current workers does not pay for the number of people collecting a pensions.

I think what new York did is grant a combination of pension and 401k, so half or more of their retirement is an elected contribution from the workers pay check.

But New York still has a bigger debt then Detroit , so not sure if it's working

Rocket surgery was a joke hombre.

My point is that the attitude that firefighters (who participate in defined benefit plans instead of social security) should simply chalk this up as a loss is ridiculous.

The money isnt there, but attacking the retirement plan system itself (as opposed to the actions that led to the mismanaged/underfunded plans) is way to simple minded to do any sort of good.

 

[75th]

Plus Detroit is filing for bankruptcy, so any of its contracts are subject to change.

PBGC should step in. Thats why they exist.

 

[-SD-]

NYC is about 12 times bigger than Detroit so obviously they would have much more debt

 

[dabuffguy]

NYC is about 12 times bigger than Detroit so obviously they would have much more debt

You wanna freaking fight rob?

Still talking shit about me.

Give me your address, I'ma come to your house and fight you.

You think you're tough stuff taking crap behind my back?

I'll freaking kill you bitch.

 

[gjohnson5]

NYC is about 12 times bigger than Detroit so obviously they would have much more debt

NYC probably spends more money NYPD settlements and litigation then they do on pensions....