Author Wayne Winegarden

A tale of four cities: pension reform in and out of bankruptcy

by Gregory A. Stein and Wayne Winegarden
Filing for bankruptcy is not, by itself, a solution. ¬†Bankruptcy just creates time and breathing room to renegotiate obligations and enact reforms.¬† It is this process of rearranging municipal balance sheets that, ultimately, restores solvency.¬† But, if political interests …