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Published on Mar 5, 2009
The way to solve the financial problems of the nations state and local governments is to enact a law permitting residents to file an involuntary petition in partial bankruptcy, to give the bankruptcy judge the authority to change payroll and pension agreements, rights and obligations as to all officials, employees and consultants of the Municipality, both past, present and future, and to make such arrangements just and equitable, so that the other residents are not taxed inequitably to pay for Municipal excesses, and so that residents do not lose needed Municipal services. The Municipality would also have the right to file, a voluntary petition.