Posts Tagged ‘sharon’

Faith in the Detroit Farce

The New York Times feels that the issue is ‘good faith’ in the just-concluded trial to see if Detroit can use bankruptcy rules to slash public pensions with union lawyers arguing that a “cloak of secrecy” surrounds the governor’s bankruptcy strategy making it almost impossible to negotiate on pensions. “You don’t know how or what is going to be cut,” Sharon Levine, representing AFSCME, said. “How could you make a counterproposal without the very basic, simple facts?”

Which is exactly why this trial has been a farce and the only issue to be decided is how much those who were never promised any Detroit tax money (bankruptcy lawyers, managers, consultants. et. alia) will siphon from those who were (bondholders and public employees).   But one thing has become clear – the reason.

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