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Federal Judge Smacks CalPERS on Sanctity of Pensions; Liens Null and Void


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2014 Oct 1, 2:45pm   1,744 views  5 comments

by Mish   ➕follow (3)   💰tip   ignore  

Federal Judge Smacks CalPERS on Sanctity of Pensions; CalPERS Liens Null and Void
http://globaleconomicanalysis.blogspot.com/2014/10/federal-judge-smacks-calpers-on.html
Mish

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1   marcus   2014 Oct 1, 3:00pm  

Stockton does not need another defined benefit retirement plan. Rather, it needs to eliminate the one it has. And this excellent, common-sense ruling from Judge Klein paves the way.

From Mish's good work on our stupid War policies, I was starting to think he wasn't an evil dirt bag anymore. I was wrong.

Sure Mish, take workers promised pensions away. That's wonderful news for Mish. What's bad for workers, and supposedly good for who ? And Mish is jumping for joy.

The fact that these people made life decisions, icluding whether or not to even stay in those jobs in part on their compensation,...Mish says "who cares,...weeeeeee!" Finders keepers losers weepers.

Those workers might get fucked royally. Mish say "AWESOME, they were overpayed anyway, and knowing that they will lose a lot of their retirement benefits makes me giddy with pleasure !!"

I think Mish needs to have 5 or more years of his of past compensation taken away from him, to understand what this even means. I'm not evil enough to say that it would make me happy, or that it would be great news, but it is what he deserves.

Let's see what actually happens. I beleive that weaseling out of paying past compensation to it's workers is something that Stockton will not succeed in doing, regardless of how happy it would make Mish.

2   Ceffer   2014 Oct 1, 3:07pm  

What good is a public service union if it can't award itself outlandish, extortionate, spiked pensions that carry the sanctity of ironclad law?

Who do they think they are, Congress?

3   marcus   2014 Oct 1, 3:19pm  

Ceffer says

What good is a public service union if it can't award itself outlandish, extortionate, spiked pensions that carry the sanctity of ironclad law?

What good is a city or state government, if instead of addressing these problems, they destroy unions in this country even further, and existing people who worked their entire lives with them.

4   Ceffer   2014 Oct 1, 3:24pm  

One thing for sure, the rank and file who didn't care that the malfeasors were abusing the system are now going to look at them as undermining their own benefits.

Before, if they thought everybody was going to get paid, it didn't matter. Now, with the burden on all pensions, a lot less sympathy for the gougers.

It was fine as long as everybody was gouging the taxpayer, but now, they will look at the pot and see that they are gouging each other when things have to be settled differently.

5   bob2356   2014 Oct 1, 10:48pm  

Ceffer says

What good is a public service union if it can't award itself outlandish, extortionate, spiked pensions that carry the sanctity of ironclad law?

Public employee unions (which I think is a terrible idea) don't award themselves anything. They negotiate with elected officials. It's these elected officials job to avoid unmanageble pensions. Since this is all public record then the voters are the culpable ones. Why didn't you run for public office if this bothers you in your town/county/city? If you stood by and let it happen then it's your fault as much as anyones.

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