Caveat: The citizens of Detroit elected a school board president who is functionally illiterate.
a rant which tells us he would similarly object to federal bankruptcy rules which provides wage earners a super-priority
how dare the government look after the common citizen when it could instead be using its authority to vest corporations with more advantages
There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences.
P. J. O'Rourke
which illustrates the difference of the beliefs of democrats and republicans
republicans will use government authority to provide corporate interests with imbalanced advantages
in this instance, paying investors before the payment of retirement benefits to those who actually exerted while on the job
fortunately, the state anticipated this inclination and mandated in its constitution that no body can dissipate the pension claim of a pensioner
so, when the assets are apportioned based on the claims of the claimants in bankruptcy, the pensioners will be first in line
if the money exists to pay any creditor, the pensioners will be first in line to receive it
NOT bond holders
obvious why the wingers hate that