-- 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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Here is a copy of the RICO lawsuit.
http://www.courthousenews.com/wp-content/uploads/2020/02/Red-light-RICO.pdf
Lawrence H Gress v SafeSpeed, Nikki Zollar, Chris Lai, Khalid Maani, Omar Maani, Tony Ragucci, Martin Sandoval, City of Oakbrook Terrace, Patrick Doherty, Bill Helm, Jeff Tobolski, Robert Gedville, John O’Sullivan, Sergio Rodriguez, John Ryan, Michael Carberry, John Carberry, John Kosmowski, and Bill Mundy.
This lawsuit is brought by a private citizen, not the Federal government.
The FBI investigation is a separate although related matter.