The Report on the Pensions came out.
Yikes.....
Overpayed out principle as a "Bonus" ( Like the big 3 used to give out ) when the Markets were a smokin' with a 13th Check to Pensioners and Extra Annuity money for those in the process of building their nest egg and it took away from the principle nest egg, instead of rolling it back into the pot.
Total payouts? To the tune of 932 Million if my memory is correct over a number of years...
This is on top of the bad investments by Kawame Kronies....
Report: Detroit pension funds misspent
http://www.detroitnews.com/article/20130906/METRO01/309060041