Comments on Advance Indiana™: Chicago's Bond Rating Downgraded By Moody's To Junk Bond Status

Ostensibly (wink-wink), the federal blubber-mint t...

2015-05-14T10:38:11.854-05:00

Ostensibly (wink-wink), the federal blubber-mint took over GM to deal with "legacy" costs (pensions); while shelling bond holders in service to the union & orthodox statism.

Chicago is being treated with Dr. Detroit's "it takes a pillage" therapy, of economic destruction.

"It was shoved off onto the Federal Governmen...

2015-05-13T18:42:19.173-05:00

"It was shoved off onto the Federal Government"

Ah yes the less-than-solvent PBGC.

You can no longer rely on the Indianapolis Star. ...

2015-05-13T18:25:43.089-05:00

You can no longer rely on the Indianapolis Star. Sophie McAdam explains this fact in her article of Sept. 10, 2013 posted at TrueActivist.com:

"10 Compelling Reasons You Can Never Trust the Mainstream Media."

Sir Hailstone, my wife "lost" her pensio...

2015-05-13T18:01:53.655-05:00

Sir Hailstone, my wife "lost" her pension also when her airline went bankrupt, reorganized and presto-chango-alcazam no more Pension. It was shoved off onto the Federal Government.

They are following the Official Financial Plan of ...

2015-05-13T16:29:24.521-05:00

They are following the Official Financial Plan of Democrats. That plan is their hallmark as seen by how it worked in Detroit.

"The sad part to all of this is the retirees ...

2015-05-13T16:05:24.346-05:00

"The sad part to all of this is the retirees who depended upon the expertise and honesty of the politicians and other parties to deliver on the pension promises."

Same could be said for a lot of private sector industries and their pensions - steelworkers, miners and autoworkers for example.

The sad part to all of this is the retirees who de...

2015-05-13T14:14:58.978-05:00

The sad part to all of this is the retirees who depended upon the expertise and honesty of the politicians and other parties to deliver on the pension promises.

There are separate state and municipal pension fun...

2015-05-13T12:35:08.188-05:00

There are separate state and municipal pension funds involved here, although I suspect Chicago was always counting on the state for a bailout when it came up short. That's a bit of a challenge given the gravity of the state's unfunded pension liability.

Is Chicago's pension separate from IMRF or is ...

2015-05-13T11:34:05.263-05:00

Is Chicago's pension separate from IMRF or is this all IMRF related?
And here I thought Daley the Younger's lease of the Skyway was supposed to go to shore up the City's contribution to the pension funds. Hmm. It didn't. Imagine that.