The Case for Allowing U.S. States to Declare Bankruptcy – Bloomberg Business

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Advocate
8 years ago

When one chooses to attack the messenger and not the message, they expose intellectual deficiencies. Lets not make it personnel Mark, both of us do understand.

Advocate
8 years ago

When conservatives turn to striking fundemental priciples of State sovereignty and blindness to constitutional provisions of the Contracts Clause and Supremacy Clause, and ex post facto, all for the sake of fiscal convienance. How radicalism prospers indeed. Lets amend the State Constitution in the face of budget struggles wirepoints suggests. When do Americans sacrifice fundemental values and principles for budget convienance? Americans and conservatives stand by their values and laws in the face of adversity. At times it takes courage, albeit in crisis, to stand by our fundemental values;still, it is not courageous to run from our values, for the… Read more »

mark glennon
8 years ago
Reply to  Advocate

Mindless nonsense. The Constitution means what courts say it means, and nobody has ever suggested defying a court order. The Bankruptcy Code, its amendments, the ex post facto clause, the contracts clause and all the rest will be duly interpreted and those interpretations will be followed.

Advocate
8 years ago
Reply to  mark glennon

Defying a court order? Who said that? I sure didnt. And Nonsense Mark, is to ignore or dissmiss that you fail to confront.

mark glennon
8 years ago
Reply to  Advocate

You fundamentally just don’t understand.

J.A. Herzrent
8 years ago

Public employee unions oppose bankruptcy because it would force an encounter with financial reality and lead to an apportionment of existing pension assets among ALL pension beneficiaries. It would also put the future cost of retiree health care out there for everyone to see. The result would be cutbacks of benefits for those already retired and diminished expectations for those still working. Since the courts insist on calling all these expectations “contract rights” we are left with the bankruptcy as the only solution. Delaying bankruptcy simply gives public employees and retirees time to deplete further the existing funds and to… Read more »

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