tag:blogger.com,1999:blog-12703782.post6800140821417221664..comments2024-03-25T13:42:25.771-05:00Comments on Advance Indianaâ„¢: Chicago's Bond Rating Downgraded By Moody's To Junk Bond StatusGary R. Welshhttp://www.blogger.com/profile/15185079937305083438noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-12703782.post-7637220165303657462015-05-14T10:38:11.854-05:002015-05-14T10:38:11.854-05:00Ostensibly (wink-wink), the federal blubber-mint t...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. <br /><br />Chicago is being treated with Dr. Detroit's "it takes a pillage" therapy, of economic destruction.Pete Boggshttps://www.blogger.com/profile/12948800585492289789noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-7945916206236552672015-05-13T18:42:19.173-05:002015-05-13T18:42:19.173-05:00"It was shoved off onto the Federal Governmen..."It was shoved off onto the Federal Government"<br /><br />Ah yes the less-than-solvent PBGC.Sir Hailstonehttps://www.blogger.com/profile/16301073859882785758noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-1254908009057795552015-05-13T18:25:43.089-05:002015-05-13T18:25:43.089-05:00You can no longer rely on the Indianapolis Star. ...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: <br /><br />"10 Compelling Reasons You Can Never Trust the Mainstream Media."Marycatherine Bartonhttps://www.blogger.com/profile/14674049191412285346noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-28207702081513400422015-05-13T18:01:53.655-05:002015-05-13T18:01:53.655-05:00Sir Hailstone, my wife "lost" her pensio...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. <br /><br />Floggerhttps://www.blogger.com/profile/10383015097067413086noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-40877337489418427192015-05-13T16:29:24.521-05:002015-05-13T16:29:24.521-05:00They are following the Official Financial Plan of ...They are following the Official Financial Plan of Democrats. That plan is their hallmark as seen by how it worked in Detroit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-12703782.post-86553038461443679272015-05-13T16:05:24.346-05:002015-05-13T16:05:24.346-05:00"The sad part to all of this is the retirees ..."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."<br /><br />Same could be said for a lot of private sector industries and their pensions - steelworkers, miners and autoworkers for example.Sir Hailstonehttps://www.blogger.com/profile/16301073859882785758noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-7723147552146708262015-05-13T14:14:58.978-05:002015-05-13T14:14:58.978-05:00The sad part to all of this is the retirees who de...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. <br /><br />Floggerhttps://www.blogger.com/profile/10383015097067413086noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-78316410454480151272015-05-13T12:35:08.188-05:002015-05-13T12:35:08.188-05:00There are separate state and municipal pension fun...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. Gary R. Welshhttps://www.blogger.com/profile/15185079937305083438noreply@blogger.comtag:blogger.com,1999:blog-12703782.post-85131710534027476802015-05-13T11:34:05.263-05:002015-05-13T11:34:05.263-05:00Is Chicago's pension separate from IMRF or is ...Is Chicago's pension separate from IMRF or is this all IMRF related?<br />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.Sir Hailstonehttps://www.blogger.com/profile/16301073859882785758noreply@blogger.com