Detroit pensioners to get 16 cents on the dollar

[ShootSpeeders]

Are welfare payments being eliminated or even reduced? How can you NOT pay people you owe while you continue to give money to people you don't owe?

Banker: Goes without saying Detroit must cut pensions

Published: Friday, 25 Oct 2013 | 2:33 PM ET

On Friday, city financial consultant Kenneth Buckfire said he did not have to recommend to Orr that pensions for the city's retirees be cut as a way to help Detroit navigate through debts and liabilities that total $18.5 billion.

"Are you saying it was so self-evident that no one had to say it?" asked Claude Montgomery, attorney for a committee of retirees that was created by Rhodes.

"Yes," Buckfire answered.

Buckfire, a Detroit native and investment banker with restructuring experience, later told the court the city plans to pay unsecured creditors, including the city's pensioners, 16 cents on the dollar. There are about 23,500 city retirees.

 

[R.C. Christian]

Good. To hell with them.

 

[ShootSpeeders]

Good. To hell with them.

I don't have much sympathy for them either since they're all a bunch of affirmative action idiots who shouldn't have been hired in the first place. But at least they did some work and are better than the welfare queens who are all still getting paid.

 

[Dont Taz Me Bro]

Good. To hell with them.

I don't have much sympathy for them either since they're all a bunch of affirmative action idiots who shouldn't have been hired in the first place. But at least they did some work and are better than the welfare queens who are all still getting paid.

Welfare is paid for by the federal and state governments, not by individual cities.

 

[JakeStarkey]

I hope the city did not pay the big wig pensioners before the rank and file, which is quite common when companies go bust: the CEOs etc get paid in full first before the little folks.

 

[ShootSpeeders]

I don't have much sympathy for them either since they're all a bunch of affirmative action idiots who shouldn't have been hired in the first place. But at least they did some work and are better than the welfare queens who are all still getting paid.

Welfare is paid for by the federal and state governments, not by individual cities.

What difference does that make, you idiot?