“Illinois, which has the worst-funded state pension system in the United States, agreed on Monday to settle federal civil securities fraud charges alleging it repeatedly misled municipal bond investors about the underfunding of its pensions, according to the Securities and Exchange Commission. The settlement of charges that Illinois failed from 2005 to early 2009 to fully tell investors the risks of buying $2.2 billion worth of its municipal bonds is the latest blow to the state’s reputation as fiscally troubled and crippled by a pension shortfall of $98.6 billion.”
http://www.economicpolicyjournal.com/2013/03/illinois-lies.html
Related posts:
Jeffrey Tucker: Bitcoin In Depth
Germany's Green Energy Revolution May Be on Verge of Failure
Scientists use new ‘computational cell biology’ to kill cancer cells by making them sick
Maryland Gov. O’Malley to sign marijuana decriminalization bill
Bailout Buffett: The Sage of Solar
Dwolla shuts doors to bitcoin companies and virtual currency exchanges
U.S. Government Set To Spend Millions On Pro-GMO Propaganda
Spain Shuts Down Google, Confronts the Internet
The EU Robs the Bank In Cyprus - Coming to the USA Too?
When can your government kill you?
Employment Ratios: Total, Men, and Women
Feds Begin Their Crackdown on Bitcoin Stocks
Inside TimeSpace, the New York Times’ new startup accelerator
Only One Big Telecom CEO Refused To Cave To The NSA; Jailed For Years
Marc Faber on Bloomberg Radio August 13, 2012