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Detroit sends CA another bankruptcy warning

The Stockton and San Bernardino bankruptcies in 2012 were the largest for cities in American history — until Detroit in 2013. State laws and situations differ. But there’s a new warning from Detroit for California’s municipal governments, especially as bankruptcy courts

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CA city bankruptcies unnerving bond industry

The fallout from municipal bankruptcies in Stockton and San Bernardino continues to play out in unexpected ways, with old presumptions that most significant creditors would be treated similarly, falling to the way side. This week, Franklin Templeton filed vigorous objections

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Courts: Maybe public pensions can be cut

One theme CalWatchdog.com has covered over the years is that public pension programs are not sacrosanct. Although the general interpretation of the California Constitution is that the pensions must be paid — no matter what — if there’s no money,

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Stockton bankruptcy looms over 2015

  The New Year is going to bring increasing difficulties for some California cities because of the 2014 settlement of Stockton’s bankruptcy. The reason: because all cities are linked under California municipal laws, especially for pension costs, borrowing costs are

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BK judge slams taxpayers on Stockton pensions

In boon to public pensioners and a shock to taxpayers throughout California, federal Judge Christopher M. Klein approved a bankruptcy plan to put Stockton city retirees at the top of the heap. That means taxpayers are at the bottom. Also stiffed

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Pension spikes crumbling CA roads

From roads to bridges and well beyond, California’s neglected infrastructure won’t receive relief this election cycle. For years, the state has lavished money on other projects — especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions

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Voters face pension-reform decisions

In a series of contests playing out at the state and local levels, Golden State voters will cast votes this November that could reshape the pension landscape for years to come. Races have attracted attention for offices that exercise direct influence over the institutions

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Post-Stockton, Democrat job-retention myth certain to be exposed

Both parties have bogus canards that they trot out when convenient. The worst example of this among Republicans is the idea that tax cuts always pay for themselves — that they lead to higher revenue. It could well be true

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Stockton ruling, like Vergara ruling, shakes CA status quo

Californians who think the state status quo is nuts and that public employees amount to a protected class of citizens have gotten unexpected help this year from the state and federal courts. First came Los Angeles Superior Court Judge Rolf

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Pension follies: New Jersey adopts insane San Diego approach

California leads the way when it comes to government pension dysfunction. The first big city to be stricken by pension costs in the U.S. was San Diego, leading to the memorable 2004 New York Times’ description of it as “Enron

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