It's a shame that some individuals are innocent. When Central Falls went bankrupt there were pensioners in their 80s whose pensions were cut in half. What can they do now? In most cases they're too old to return to work, and they were not closely involved, for the most part, in making the deals they rely on.
But this is the case that illustrates the point. There is no money! Bankrupt means bankrupt. Sorry about that.
I just hope that when public sector pensions are mis-managed like this in the future we will have had the foresight to put some laws in place that will mean people go to jail. As it stands now there are too many people involved and it's impossible to identify any one person to blame. A rotating group of politicians over a period of years created the mess.
But the human tragedy is real, and those who are responsible will deserve the special place in hell I assume is being held open, awaiting their arrival.