Here is the link. I was asked once what the federal government should do about the upcoming institutional collapse. I suggested creating a time travel machine so we could go back in time and undo what Generation Greed has done, because I didn't have another idea. But now I do.
The federal government should think carefully about Chapter 9 of the bankrputcy code, and be prepared to set some standards. How bad does life have to be in a community before it is allowed to stop paying some of its burdens from the past, such as debts, pensions and retiree health care? Do those who are not of the executive and political class have to be left to starve in the street? Do public schools need to be eliminated? Does the tax burden need to be increased to a level current residents couldn't possibly pay, with storm troppers to be known as "pension collectors" sent in to toss them out as their homes are sold out from under them? Do the police need to stop protecting people from crime? There needs to be a standard, and it needs to be the same for all.
Perhaps New York City in the 1970s could be used as a baseline. Generation Greed to everyone coming after: "Go to Hell."