Dan Walters

September 16, 2013 12:00 AM

Dan Walters: Municipal bankruptcies confront huge issues

As federal bankruptcy judges deal with the insolvencies of two medium-size California cities, Stockton and San Bernardino, and the huge fiscal collapse of Detroit, they are confronting an issue with almost incalculable impacts – whether public employee pensions are ordinary debts or enjoy special protections.

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