-- 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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Where is my big fat envelope of hundies?!
No one goes to jail. Stockholders will end up paying the huge fine.
Why don’t the ComEd people just pull a Madigan and say they are too sick to stand trial. Wait and see folks, the Madigan defense will appear magically.
What I don’t get is now Com Ed is seeking 2 rate increases and the thugs at the ICC will give it to them, just don’t understand how this crap can keep on happening.
Nicor Gas is also seeking a huge rate increase even though natural gas is now vilified and gas appliances are being outlawed in new construction.
All guilty as sheeeet IMO.
However, Illinois is the most corrupt state so who knows how the jury will vote.
Mikey Madigan da King of the Illinois Democratic Party is next!!!