Pension Bond Stuff
Local media recently reported on the City of Eureka borrowing money via pension bonds to fund city employee's pension funds. This Associated Press article published in the Fresno Bee takes a look at how that works. It seems a lot of cities are doing it and there is a risk involved.
The City Journal's Steve Greenhut takes a look at the City of Stockton trying to stiff pension bond holders as part of their bankruptcy filing.