When Detroit went bankrupt in 2013, investors were shocked to learn that the city had promised pensions worth billions more than anyone knew — creating a financial pileup that ultimately meant big, unexpected losses for Detroit’s bondholders. Now, researchers at Citigroup say the groundwork has been laid for similar conflicts across the developed world:
Read more at the New York Times
Friday, March 18, 2016
Study Finds Public Pension Promises Exceed Ability to Pay
Labels:
public pensions,
study
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment