Page 893 - Pensions News Today

>> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >> carry.d kari. >> you v...

That taking on tough fights like medicare, in your case it was collective bargaining and pensions for state employees, that it has a real political cost. you faced a recall which you survived. politico has an interesting analysis piece by john harris and mike allen, and this is part of it i want to put on the screen for you. "its hard to overstate the risks romney is taking in making a choice that virtually guarantees a far-reaching debate about the broader role of the government and the entitle...

Wife became ill, it was -- there was nothing they could do for her. and she passed away in 22 days. >> the president understandably has resorted to a very unusual campaign. and that is in some respects i think he disrespects the office by taking the campaign down to the very lowest point i can recall in my lifetime. >> disrespecting the office of the president is the charge from mitt romney about ads like that, with the implication that somehow bain and mitt romney was responsible for that woman...

Was nothing they could do for her. and she passed away in 22 days. >> the president understandably has resorted to a very unusual campaign. and that is in some respects i think he disrespects the office by taking the campaign down to the very lowest point i can recall in my lifetime. >> disrespecting the office of the presidency is the charge from mitt romney about ads like that, with the implication that somehow bain and mitt romney was responsible for that womans death. how do you respond to t...

>> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >> carry.d kari. >> you v...

The project goes kaput that the government is still on the line to pay what is due? >> they make us an absolute promise to pay. full faith and credit is the term that is typically used. >> so they are on the line for it. >> if you give me your full faith and credit are you on the line? >> of course. >> okay. >> last october the council filed for bankruptcy but its petition was rejected because thompson the mayor refused to sign it. now, miller is running against her in next years primary. dave u...

Public employees salaries and benefits and it hit town right on schedule. >> approximately 75% of the budget goes towards fire and police officers. they are not going to be able to pay those pensions nor are the salaries they have been paying. >> we have historically in the city been remarkably generous with our labor contracts. >> generous, indeed. in 2010, a san bernardino $317,000rgeant maided 3 h in a city where the average household income is less than $40,000. but it is not just the top sa...

Bring down the cost of pensions. >> it would save the city billions over time but voters had to approve it first. that was hardly a slam dunk in a county that vot voted 70% for obama in 2008. reed pushed his case hard, demonizing city workers says firefighter robert s api en. >> trying to convince the public things were bad in the city because of employees. in some cases people have been accosted in grocery stores. >> from the firefighters and police officers perspective have you heard the stori...

And corruption. can any one turn the towns around? meet two democratic mayors trying and aair rently making progress. even cutting union pensions and benefits. >> the private sector is doing fine. where we are seeing weaknesses in the economy have to do with state and local government. >> both parties worry about cities going broke. but they seldom agree on how to fix the problem. >> because im sure that the president of the united states is not getting his talking points from the big government...

That isnt stated in the ad. its not a fair implication. but, what is true is that governor romney and his partners loaded that company with debt, walked away with millions of dollars, and left the workers there bereft without the health care they were promised, without pensions and other benefits that they were promised. and that is endemic of -- emblematic of the kind of -- >> you dont think that ad -- >> doesnt -- >> let me ask you something, david, how does mitt romney in the very week that h...