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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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And his old lady was a Justice on the Illinois Supreme Court?!
After a lifetime of wearing finely tailored expensive suits, Ed’s not gonna like the baggy prisoner clothes at the white collar recreation camp he’s going to be spending an extended vacation at. I highly recommend the excellent book “When Corruption Was King” by Robert Cooley. In the book Cooley is the Mob lawyer turned FBI mole, and is pulled out of his undercover role because the FBI thinks that the Mob is going to kill him. Cooley’s one regret? That he wasn’t able to nail Ed Burke, who he knew was dirty! Remember, this was in the late 1980’s. Cooley… Read more »
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Run From Justice
Can’t open link.
Good to see Chicago getting smeared in this. Never liked him.