[quote=SD Realtor]Could not agree more Paramount. The ONLY way to get leverage and renegotiate with ALL CREDITORS including organized labor (public and private) is through bankruptcy.
This is what the city of San Diego should have done and it is definitely what California should do.
This problem is not going to go away.
Guess what, if the state raises 16B in revenue then it will spend 32B shortly after.[/quote]
When you say “all creditors,” you’re referring to bondholders, too, right? After all, if labor is supposed to take a haircut, then capital should take a haircut as well.
