Detroit: houses lost, pensions looted

November 22, 2014

etroit—As expected, Judge Stephen Rhodes ruled Nov. 7 that Detroit’s Plan of Adjustment was fair and feasible and allowed the City of Detroit to exit bankruptcy. One retiree termed the jovial press conference with the Mayor, Council President, Emergency Manager and Governor Rick Snyder as “sickening.” Thanks to the media, people believe retirees voted “overwhelmingly” for a 4.5% cut to their pensions. Half the retirees did not vote…

read the rest!