POWIP Piece of Work In Progress

15Jul/112

Central Falls is fallin’ down, fallin’ down…

To follow up on my prior post, John Bury takes his own look at the state of Central Falls, RI. And the bottomline is that the law doesn't really matter when there's no money left.

Central Falls, Rhode Island will have to default on its pension promises. They threw in the towel in their May, 2010 Petition for Receivership claiming:

8. Because of its dire fiscal situation, the City has sold off much of its chief pension fund assets to satisfy annual pension obligations. Its actuarial accrued liability exceeds $35 million dollars and its assets are approximately $4 million. The City audit reports that for fiscal year 2009, its “required” contribution was over $2.7 million and the City’s actual contribution was $0. For fiscal year 2010, there are no funds available to contribute and over $1.5 million in assets would have to be sold to meet present obligations.

....

In poker a ‘tell’ is a clue that a player gives about the strength of their hand. Central Falls is a ‘tell’ to anyone who believes that governments are funding their retirement benefit promises adequately. They’re not and you may not find out that cold hard fact until assets are depleted and you get ‘asked’ to take less…….or ‘told’ to take nothing.

The thing is that no number of lawsuits can will money into being. This is why these sorts of promises need to be pre-funded -- if they're not, chances are pretty good that they won't be fulfilled.

Something like this doesn't develop overnight. Usually it takes years of larding up pay and benefits... starting out at a supportable amount, but then, as various groups accrue more power to themselves, they get too piggy. A point gets passed at which the excess can no longer be supported.

One can cry about fairness. Or legality. But once you've eaten up all the cake, crying won't make more appear.

Meep

Meep is a member of the Irish Catholic mafia, having a suspiciously high number of green-eyed, red-haired friends. While she doesn’t have red hair herself [except when she goes into the sun (rare for any vampire)], she does have green eyes. She’s a raving Papist and is a life actuary on the side [i.e., she counts dead people]. An amateur pain-in-the-ass [willing to go pro!], she likes covering retirement, mortality, math, and education issues.

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10Jul/115

“Uncharted legal territory”: No, it ain’t

I'm getting a bit tired of the abuse of language. "Unexpected!" "Unprecedented!"

To quote a drunk, fictional Spaniard: I do not think that means what you think it means.

A Rhode Island town finds itself in trouble... and the rhetoric is silly:

Central Falls receiver seeks 'significant' retiree concessions
1:52 PM Fri, Jul 08, 2011 | Permalink
Katherine Gregg Email

PROVIDENCE, R.I. -- With a legal fight still raging over the state's attempts to rein in the cost of its retiree health and pension benefits, Central Falls receiver Robert Flanders is seeking "significant voluntary concessions'' from retirees in the battered city he is trying to pull back from the brink of bankruptcy.

In a letter that went out Friday to retired members of the Central Falls police and fire departments, he requested a meeting on Tuesday, July 19, to discuss the potential for a cost-saving compromise that could help avert a bankruptcy that could jettison the city -- and it retirees -- into unchartered legal territory. [sic]

Go to the original story if you want details on the specific concessions, the legal threats, yadda yadda. I want to address the "uncharted legal territory" ...

Oh come now. This isn't uncharted legal territory. Prichard, Alabama already blazed this trail. The pensioners of Prichard were SOL when the town and pension fund went bankrupt in 2009. For almost 2 years the pensioners did not get paid. At all.

Here are several posts (some by me, some by someone else) on Prichard's plight:

The rest of the article is stuff we've seen elsewhere ... "Changing our benefits is unconstitutional!" yadda yadda. Well, municipal bankruptcy is constitutional, and then when the money runs out of the pension fund.... try to sue your pensions into existence. I'm sure that will work.

I can't find the link right now, but the last I heard of the Prichard pensioners, they got some sort of lump sum settlement of their pensions, but much less than they were owed if you went by the original promises.

If you want to take this court, public employees, you do have recourse to that venue, but you need to realize that you may get far less via that route than negotiating up front right now. You need to figure out what is actually supportable. Hire your own, independent actuaries. Project cash flows under a variety of scenarios.

Because yelling that the original promises must be fulfilled doesn't mean that they will be fulfilled. You need to figure out the likelihood that they will actually be paid.

Meep

Meep is a member of the Irish Catholic mafia, having a suspiciously high number of green-eyed, red-haired friends. While she doesn’t have red hair herself [except when she goes into the sun (rare for any vampire)], she does have green eyes. She’s a raving Papist and is a life actuary on the side [i.e., she counts dead people]. An amateur pain-in-the-ass [willing to go pro!], she likes covering retirement, mortality, math, and education issues.

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6Jul/1113

Fr John Corapi & the Judas Ratio

For years & years, I have loved Father John Corapi. He represents to me something sorely lacking (in my experience) in the Church. Namely, a priest with adequate testosterone. This is no small matter, as many of us middle-aged men find it easier to relate to a priest who we know actually knows something of the carnal struggles we face. That is, when we see ourselves in another, we find the argument & Teaching easier to consume.

Father John Corapi, for those who may not know him, was/is a very significant talent. He had/has all of the right skills and has had a terrific impact on the Spiritual Lives of many of us Catholic Pilgrims. He was/is an impressive orator, possesses an incredible mind and is an impressive theologian.

But perhaps the most impressive aspect of Father John Corapi was that he appeared a modern day St. Augustine of Hippo. One who knew sin and all of her empty promises. One who lived like a pagan and bathed in the false pleasures of our present temporal station until his Conversion. Nothing remarkable about his temptations: drugs and women. It's an old story indeed.

But Father John represented to many of us more than just a man we could relate to. Here was a man who had his moment in the garden. A man pursued by the "Hounds of Heaven". A man whose Monica was, as it were, the Virgin Herself.

What this means is that in Father John, we saw a man who appeared to have done what Christ implores all of us to do: namely, turn away from sin and embrace our Cross(es) and slog on the Pilgrim's Road for the Christ.

That is, in Father John we saw ourselves (only better). We saw someone living the faith. We saw someone unashamed to achieve to the Higher Self through a fiery devotion to Our Lord. We saw a man of love, peace, fortitude, courage, charity... a man of God. We saw our potential.

Today marks an incredibly sad day for the Church, in that...

"Father John Corapi’s religious order has found him guilty of substance abuse, sexual activity and violating his promise of poverty. A July 5 press release from the Society of Our Lady of the Most Holy Trinity (SOLT) said that while Fr. Corapi was involved in public ministry he had “sexual relations and years of cohabitation with a woman known to him, when the relationship began, as a prostitute.” MORE

I, along with perhaps millions of the Faithful are heartbroken.

In perusing the comments to this story on FB, we see mostly disbelief and resigned sadness. One could even say mourning for this man.

But we also see the typical bashing we have grown to expect. Of those voices, we see the juvenile tauntings  and cries of "hypocrite".

I have treated at length on this topic here before. Only last Ash Wednesday I posted this here on the topic of our claim as Hypocrite:

I will say it again for the benefit of all of my brothers and sisters in Christ. We are necessarily Hypocrites! We are to be Fools for Christ! The bar is necessarily high… and perfection will not be ours on this Pilgrim’s Road. We will necessarily fall short. End up in the woods. We will be lured away from the path. We will fall in the mud, beaten and bloodied. We will be left for dead. We will be surprised when a strange Samaritan (of all things) picks us up and delivers us from our doom.  We are in fact, all of us, in a distant country. We are, in fact, all of us, spending our inheritance on whores. During Lent, we are reminded to identify our faults, our imperfections, our rebellions, our sins, our darkened minds, our injured and hardened hearts… and to orient ourselves toward the Father’s Estate.

The story of Fr. John Corapi is nothing new. In fact, it is as old as the Faith. As old as the Church. We should not be stunned by stories such as these. From the beginning of Christ's Church here on Earth, Judas has been with us. St. Paul himself warns us against the spirit of Judas. St. Augustine, St. Catherine of Sienna, St. Faustina, JPII - all of these and all men and women religious worth their salt have warned, have lamented, and continue to draw our attentions to corruption in the Church... and yes, even Fr. Corapi, has spoken at great length about the dangers of concupiscence. In fact, they each struggled, as we are called to do, to sublimate our lower passions.

As I have postulated for years here on POWIP, there is a Judas Ratio.

The Judas Ratio can be thought to be the 8% (1/12) of any demographic segment (whether professional or otherwise) that can be expected to be complete scoundrels.

The concept originated with my father, Dan Sr., who postulated the thought to explain the “radical priests” during the pedophilia outing that occurred some years back. He said something along these lines: “If the Master Himself had one among his group who would sell Him and his own soul for a bag of cash, isn’t it likely the rest of us will have to suffer the same?” That goes for the Church, our schools, our bureaucrats, our politicians, our businesses (managers and employees alike), our neighbors, our family members, et cetera.

I think there is something to this Judas Ratio business. It may be that some of the 8% are never found out, while others are eventually dis-covered. But, nonetheless, I think it holds.

Let us Hypocrites acknowledge it and be on guard - vigilant. Will we deny Him like Peter? Yes. Will we condemn Him as Pilate? Yes. Will we betray Him with a Kiss? Yes. And in fact, we have done this and more to the Eternally crucified Christ.

This is why we Christians commemorate this Day and are called to contemplate not only The Death of Our Lord – in all of its very human ugliness – but also embrace our guilt in the astroturfing of the Christ. Who put Him to death? Why, we did. Each and every one of us. We betray Him, accuse Him, arrest Him, flog Him, spit upon Him, and yes, we nail Him to the Cross each and every day. We are Judas, Peter, Pilate, all of us. And if we are Blessed, we are the thief who asks the Godman to be remembered. We are the Roman Guard whose spirit is quaked and recognizes that Jesus was/is “truly the Son of God.” MORE

Let us pray that Father John petitions for Mercy and Forgiveness and Healing. Let us pray he does not, in fact, become a charismatic for the Forces of Evil... but instead embraces his Cross and makes his way to Calvary... in Faith, becoming a Saint as he is called to be (as we all are).

Let him comply, knuckle-down, and give up his rebellious spirit...

Petition St. Michael to come to his aid. Petition the Virgin to comfort him. Petition God the Father, God the Son, and God the Holy Spirit to rush to his aid.

May he be healed. And should he be, perhaps I will celebrate him even more for overcoming his depravity appropriately... that is kneeling at the foot of the most holy and bloody Cross.

Father John Corapi is all of us... hypocrite, sinner, diseased... he is all of us and we are him.

I beg for your prayers! For Fr John, for me, for you, for all of us Judases, Pilates, Pharisees...

None of us is worthy. None of us.

Father John has made significant contributions to the Kingdom, the City of God. Now perhaps God has greater things in store for him. Perhaps like watching PJII persevere while his body betrayed him... perhaps we will witness a human get back on the Pilgrim's Road. Bloodied, beaten... but determined.

God help us all.

Enoch_Root

AKA. Bobby Donn Brubaker (the most popular man in Mesa, AZ), the Umbrella of Terror, Jack Ketch.

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