@cate_long Seems part of what is going on is inclusion of HEALTH obligations as a pension obligation. Feels like AutoBailout 2.0. Possible?
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@emptywheel No retiree health care (OPEBs) is diff # from pensions. No one puts aside assets to cover OPEBs have little legal protection -
@cate_long Oh, I see they've got OPEBs. It just seems like the numbers floated add up if you include that. -
@emptywheel Very oddly Detroit is first bankrupt city to lump pensions & OPEBs w/ muni debt. Not necessarily wrong but not apples to apples. -
@cate_long I was cautiously optimistic abt auto BKs. All the funny business here makes it a lot harder to have confidence. -
@emptywheel@cate_long - Detroit's bankruptcy & blowing up its pensions & coll bargaining agreements was all pt if Rick Snyder's long game.
End of conversation
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@emptywheel@cate_long Anyone interfering with pensions should be hanged. Treat it as the capital crime it is.Thanks. Twitter will use this to make your timeline better. UndoUndo
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