-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Kroll, we’re great, just ask us. Governances, Restructuring, Regulatory Compliance? There isn’t anything we can’t help resolve! Foundation leaking? Anything! Flammable materials storage? I knew a guy named Kroll years ago, a little odd. He used a rolled up newspaper as a back brace. Ratings Agency’s! We’ll say anything you want! $$$$$. Hope we can do business again!
What a joke. So Pritzker can claim he “fixed” our economy (with federal stimulus money.) The analyst and Pritzker need to be fired.
I dont understand. We had an experienced investment banker who was trying to slash spending and curb unions and our ratings went down. We now have a silver spooned Billionaire socialist giving away everything the parasitical unions want and then some and our rating goes up? TWICE? I guess membership in the club has it’s benefits.
Very true, very true!