Everyone’s favorite Gormogon* Volgi emailed ‘Puter an article from City Journal by the incomparable Steve Malanga on Detroit’s pending municipal bankruptcy. It’s a thoughtful article, getting into the weeds on municipal finance, public pensions and bankruptcy treatment of both. ‘Puter’s written extensively on the … Continue reading →
After 20 long years of sleeping on the job, those Detroit pensioners earned their pensions! It’s not fair to fault them for their greed and incompetence just because their avaricecratered one of America’s greatest cities. Fox News has an article … Continue reading →
Island Dweller with a retrospective on the Death of Detroit; well worth your time and attention so heed: Most illustrious sultan of the steppes: This post is just a couple of observations about Detroit’s demise. I am a native of … Continue reading →
‘Puter lectures the newest crop of Gormogonsminions in the Castle’s lecture hall, located3.1 km from the Castle’s central hub in theWing of Larnin’ ‘n’ Nollidge ‘n’ Stuff. ‘Puter’s been on Detroit’s bankruptcy like white on rice. Like Anthony Weiner on … Continue reading →
Former Detroit mayor Kwame Kilpatrick,currently serving federal prison time for whatprosecutors termed a “pattern of extortion, bribery and fraud” is more honest than theNew York Times editorial staff. ‘Puter’s been trying to limit his posting, especially after yesterday’s magnum opus on … Continue reading →
New York’s public sector unions are in danger of becoming lost in space. [ed. — ‘Puter acknowledges the lameness of this references, he’s just too lazy to come up with something creative.] This morning’s New York Times puts forth the … Continue reading →
Bankruptcy! ‘Puter has several brief thoughts. 1. The bill always comes due. 2. It’s easy to spend other people’s money. 3. Municipalities spend money on really stupid things. 4. Expect to see a whole lot more bankrupt municipalities, particularly in … Continue reading →
‘Puter smiles. Why, you ask? Because a federal bankruptcy court has held that Vallejo, California, in the context of a Chapter 9 filing (municipal bankruptcy), can void union contracts. Not renegotiate. Void. The Court’s reasoning is a matter of statuory … Continue reading →
‘Puter hates hisself pension funds and gubbamint trying to manage money, even taken one at a time. Putting them together in one place is like pouring gasoline on a fire: it looks cool from a distance, but you don’t want … Continue reading →
