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In the cities decent pensions are almost as rare, except among workers in the privileged state sector.
ECONOMIST: The consequences of an ageing population
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As my Forbes colleague Dan Fischer points out, while rogue traders get jail, high-ranking executives who lost other banks far more money through bad bets on mortgage-backed securities, got decent pensions, largely because they operated within company rules.
FORBES: UBS 'Rogue Trader' Told Facebook Friends I 'Need A Miracle'
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Equally, what once seemed like decent treatment for city workers, i.e. generous health care, pensions and pay, particularly for firefighters and police, is now seen as absurd featherbedding.
BBC: Debt and defiance in bankrupt Stockton, California