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BREAKING: Exclusive: San Bernardino has defaulted on $10 million in
bond payments
Business Insider
March, 2015
LOS ANGELES (Reuters) –
EXCERPT: The southern
California city of San Bernardino has defaulted on nearly $10
million in payments on its privately placed pension bond debt since it declared
bankruptcy in 2012, according to documents seen by Reuters.
EXCERPT: The
non-payment of the bond debt and the city's lack of interest in talks with its
pension bondholders just weeks before it must produce a bankruptcy exit plan
should serve as a wake-up call to Wall Street issuers of debt to struggling
cities, according to Michael Sweet, a bankruptcy attorney with Fox Rothschild
in San Francisco.
Continue reading at ….. http://www.businessinsider.com/r-exclusive-san-bernardino-has-defaulted-on-10-million-in-bond-payments-2015-3
VISIT http://pensiontsunami.com/
March 17, 2015
From: The Federation of
Connecticut Taxpayer Organizations
Contact: Susan Kniep, President
Web site: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
The above headline just came across my computer screen as I was
preparing to leave for a Town Council Meeting in East Hartford where they will
be discussing the “town’s first tax sale”
which is contrary to the tax lien sales previously used by the
Town. In Connecticut, we pay the second highest
property tax in the nation and approximately 80% to 90% of our property taxes
are dedicated to funding personnel related expenses. In East Hartford, which is defined as a “Distressed Municipality” we pay the 5th
highest mill rate in the State. Every
year the East Hartford Town Council increases
the wages of its work force and sends us the bill. They don’t question if we can afford it. And for those who cannot, the Council sets in
motion a process whereby honest, law abiding citizens, are ultimately taxed out
of their homes and businesses. There is
something wrong with this system. At
minimum, bring the union negotiation table out from behind the closed doors of
secrecy and thrust it into the light of “public” debate! Susan Kniep
******************
CONNECTICUT
OFFICIALS:
GET CONNECTICUT’S HOUSE IN ORDER!
There is only one solution to
our problem. End or Reform
Connecticut’s
Collective Bargaining and Binding Arbitration Laws!