State Bankruptcy and Bailout Reactions: Bail Them Out With Strings Attached Contingent – Stump

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O'Daniel
6 years ago

Understandably, everyone comments on the state having to take initiative with possible violation of the contracts clause. Why not a federally assisted insurance program where individuals may waive their contract rights and join voluntarily? Illinois is apparently offering some cash-outs now. If directed by an individual who waives constitutional rights couldn’t Illinois contribute to funding the insurance also in consideration of the reduction of the system’s and the state’s liability?

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