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Bankruptcy Judge May Rule Pensions Can Be Cut in Stockton
Calpensions 
July 9, 2014
"U.S. Bankruptcy Judge Christopher Klein yesterday outlined an argument, a 'summary from 50,000 feet,' for treating CalPERS pensions like other debt, then invited CalPERS, Stockton and other parties to respond with written briefs. The judge said he wanted to share his 'preliminary thoughts' to give the lawyers in the case a chance to 'straighten me out before I make some dramatic boneheaded mistake' about a simple understanding of the law."
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