Pensions leave cities with bankruptcy as their life raft

SACRAMENTO – Over the years, we’ve become accustomed to hearing those too-good-to-be-true whoppers — from the Nigerian prince who is eager to send you a million dollars to that TV pitchman selling a skin cream that will make you look 10 years younger. These hucksters know the world is filled with suckers, who will suspend judgment if you offer them something they really crave.
As crazy as those promises sound, however, none of them compares to the one the California Public Empl