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.
Good. Hopefully they feel some debt market pain. The Bond Gods are tolerant Gods, but when they mete out discipline they are merciless
It is not Junk, it is sewage.
Fish paper has more value than Illinois or Chicago bonds do.
No chance they will ever pay back any bonds.
Nothing but an illegal Ponzi scheme.
Illinois pension funds should have to buy them and pray.
Selling out generations to come is the Illinois way.
Another threat of being declared junk status…yawwwwwn.
Illinois bonds were junk long before they officially were called junk
It was to be a tax on the middle class. Lard boy would never have “paid his fair share” and he is a billionaire.