News for hackers. Stuff that matters.

A comment on California’s public pensions are breaking the bank. Parent comment

Re:California’s public pensions are breaking the bank by humanrebar on Monday April 10, 2017 @07:19PM (#14083429)
That's true. But it's also true that contracts are subject to renegotiation in the case of bankruptcy. When we make financial deals we typically assume some of the risk of our financial partners.
[ Parent | on HN ]
Re:California’s public pensions are breaking the bank by vkou on Monday April 10, 2017 @07:47PM (#14083593)
Why consider renegotiating pensions, instead of all the other agreements with creditors?
[ Parent | on HN ]
Re:California’s public pensions are breaking the bank by beatpanda on Monday April 10, 2017 @07:20PM (#14083438)
Did the state, or any city, declare bankruptcy?
[ Parent | on HN ]
Re:California’s public pensions are breaking the bank by paulddraper on Monday April 10, 2017 @07:51PM (#14083622)
No. States (currently) cannot declare bankruptcy.

A city certainly can, and they have, e.g. San Bernardino, Stockton, Detroit.

[ Parent | on HN ]