-- 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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so many articles about what a complete scam FTX/ SBF is and all the politicians (mostly dems) that accepted big $ contributions, and all the lib–WP/NYT media types that where so in love w SBF…..He and his entire crew are absolute crooks. the entire crypto industry is a scam.
And what’s most scary is so many Illinois pensions have investments in crypto WITH ZERO REGULATIONS!!!! What are all are hero’s in Springfield doing about it—NOTHING!!!
so many articles
https://www.marketwatch.com/story/amid-ftx-fallout-public-pension-fund-defends-its-big-bet-on-crypto-related-holdings-11669730515
Ted Siedle writes a lot about how public pensions have invested in crypto directly or indirectly through private equity/ “alternative assets”
https://www.forbes.com/sites/edwardsiedle/2022/10/03/yikes-your-state-pension-is-now-gambling-on-cryptocurrency/?sh=3bd700ad308a
https://www.forbes.com/sites/edwardsiedle/2022/12/06/ohio-teachers-pension-has-no-comment-or-records-regarding-its-cryptocurrency-investments/?sh=7ae6d7615e1b
This You-Tube interview w Siedle is super scary about hidden disaster in pension private equity/ “alternative assets” investments
https://www.youtube.com/watch?v=LdFq1aEITl4