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New York's Suffolk County tiptoes on the brink of bankruptcy with time running out to pay out...

New York's Suffolk County tiptoes on the brink of bankruptcy with time running out to pay out hundreds of millions of dollars in short-term payments due later in 2012. The municipality will sell $90M in new debt and plans on laying off workers in an attempt to bridge the gap. Also on the brink: Stockton, CA (previous)
Comments (5)
  • SoldHigh
    , contributor
    Comments (1001) | Send Message
     
    Got public sectors unions? = Got troubles!
    7 Mar 2012, 04:19 PM Reply Like
  • Deja Vu
    , contributor
    Comments (1155) | Send Message
     
    Revenge of Meredith Whitney...alas I can see where this is headed if Obama is re-elected. The fed will buy the bonds of all these bankrupt cities and states and keep the lavish public sector pensions funded. The resulting devaluation will transfer the costs to the rest of the states that weren't so irresponsible.
    7 Mar 2012, 04:22 PM Reply Like
  • wyostocks
    , contributor
    Comments (7641) | Send Message
     
    This is what happens when you pay a county cop over $100,000 a year and then add on lavish benefits.
    Guess those liberals in the Hamptons will have to pay up.
    I am sure they will gladly do so.
    7 Mar 2012, 04:24 PM Reply Like
  • rjj1960
    , contributor
    Comments (1359) | Send Message
     
    Keep paying cops that hide in their patrol cars and the firemen that sleep all day. FYI, fire chiefs, the biggest scam ever at 150k . All these public pensions will be cut by 50%. HARD WORKING private sector workers are tired of it.
    7 Mar 2012, 04:30 PM Reply Like
  • Deja Vu
    , contributor
    Comments (1155) | Send Message
     
    No they won't be cut 50%. Uncle Ben will buy the bonds of these just like the ECB buys greek and italian bonds. The rest of us will pay for the public sector fat cats via devaluation of our savings.
    7 Mar 2012, 05:42 PM Reply Like
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