Unelected Emergency Manager Preparing To Break Detroit’s Pension Promises

Unelected Emergency Manager Preparing To Break Detroit’s Pension Promises: Detroit’s unelected “emergency manager” wants to stiff the city’s pensioners while repaying the large financial firms that hold the city’s debts. Emergency manager Kevyn Orr unveiled the plan last Friday while announcing that the city is unable to pay its current debts. The proposal asserts that the funding gap for Detroit’s pension obligations is five [...]/p