Bee columnist Dan Walters digs into this week's Stockton bankruptcy decision and concludes the transcript of the judge's comments on his ruling "imply that the city and CalPERS may not prevail on the pension issue when he weighs the city's plan to deal with its debts."
Read the court transcript for yourself and see if you agree. Judge Christopher Klein discusses CalPERS and the city's bankruptcy plan starting at PDF page 45 (page 588 of the transcript). To jump to that part of the document, just put "45" in the page field at the bottom of the embedded document viewer. Mobile users can click the link to open the transcript.