-- 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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Spurious logic: we can’t recover ill-gotten gains so let criminals escape any consequences of criminal behavior.
Criminals may be subject to civil judgements. Then, if they win lottery/obtain assets that are mapped within system/shoot at police, are ‘injured’ as a result, and win millions in civil settlements, that money may be subject to first liens by prior injured parties.
These type of people are not very collectable but you absolutely have to reduce it to a judgement. You never know when one of these crooks will “hit the lottery”.
IL Democrats have made the state #1 for COVID Crookery
Unlikely is a very optimistic view. Try no chance. These losers made a cash grab and blew the entire thing asap. This was so widespread the prosecution of even a small minority is unlikely. I’d settle for a demographic breakdown of the perpetrators. I won’t hold my breath.
Issue an edict if the PPP fraudsters step forward and give back da stolen funds then no criminal chanrges will be brought.
If they elect to ignore this edict criminal charges will be brought and if they are found guilty a public flogging in Daley Plaza will be their punishment!!