Rhode Island’s town bankruptcy. They sold us down the river

CENTRAL FALLS, R.I. — Paul St. George worked 19 years as a firefighter, sometimes running into burning buildings for rescues. Once, he was injured when a wall fell on him. For his service, he counted on a promised $36,000-a-year pension. But in August 2011, this small city — with an $80-million unfunded pension, and retiree health benefit liability five times annual revenues — filed for bankruptcy. LINK