re: #278 tradewind

Ahh…the Hindsight Act./

In that it works the same way as a personal or business bankruptcy. The town is admitting its in over its head and the court appoints a trustee who is allowed to make changes to put the town’s finances on an even keel. In cases of towns or counties, this does indeed involve the canceling of union and pension contracts. Another reason this approach is used is that by having the trustee make the changes, the local officials avoid a direct confrontation with the unions.