"Public pensions are not part of Detroit's problem. In fact, its public pensions are well funded -- over 96 percent for the Police & Fire plan and over 87 percent for other city employees.... Some ... would exploit Detroit's dilemma to push an ill-considered political agenda to dismantle public pensions and enrich life insurance companies. They should note that during the more than 150 years of public pension history, no public pension plan has ever asked for a federal bailout. But plenty of life insurance companies have failed[.]"  MORE >>