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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (348325)	2/11/2010 7:29:39 AM
From: LindyBill	2 Recommendations Respond to of 793887

I think we should watch the Greek "bailout" as I suspect something like it will be done for California and others If anything is done, The WH will "GM" it. Make safe the Gov employees and screw the taxpayers.

To: Bearcatbob who wrote (348325)	2/11/2010 10:36:01 AM
From: rich evans	Respond to of 793887

Only Bankruptcy can discharge debts and break contracts and avoid ERISA. However you may be on to something. The US Government could take over California under a conservatorship. It would probably need legislation. And the legislation could include many powers like Bankruptcy. US government took over Tennessee I believe during the depression but I do not know the authority it relied on- probaby special legislation. Rich