[abb]

“bankruptcy to avoid paying creditors?” Ain’t that what bankruptcy has always been?

[NonValueAdded]

suggested San Bernardino is using bankruptcy protection to avoid paying its debts

Duh!!!

[Uncle Chip]

CalPERS has played a major role in bankrupting California as the lockbox for all those public employees who demanded to be overpaid and underworked for all those years of governmental abuse of the taxpayer .

And now it wants special privileges in the bankruptcies that are coming???

Can you say "audacious hypocrisy"???

[Wuli]

I would buy this complaint from Calpers

if years ago Calpers had been sold off, allowed to continue as a pension plan, and just one among many private pension plans, that Valifornia goverment employees could chose to have their pension contributions placed in

but that is not Calpers - and an employee of any governmental unit in Kalifornia does not have a choice of where - whose pension plan - their employee and employer pension contributions ought to be sent to, and nearly all pensions of governmental units in California wind up being controlled by or invested in Calpers one where or another; meaning Calpers is the pension giant it is because it is a government monopoly in California

and I am never sorry for any government monopoly, no matter the circumstances

in as much as Calpers is the socialist style big government monoply that it is, I suggest it do what big government monopolies do - rob from Peter to pay Paul, from somewhere in all Calpers billions, and help rescue San Bernardino instead of telling it to dig its hole deeper for Calpers sake.

[vette6387]

This is just the tip of the CalPers iceberg! They are responsible for State PE Employee retirements to the tune of more than $500 billion! Back in 2000, they got the legislature to pass SB400 which gave all “retirees” a “substantial bonus” because times were good. Then CalPers was predicating their benefit payouts on the Dow being at 28,000 by now. So as I see it, city by city, county by county, there will be continuing bankruptcies which will sink CalPers and for massive changes to both current and future PE pensions. Buy lots of popcorn, this is going to be fun to watch! Rev. Wright was clairvoiant, de chickens ha done come home to roost.