Friday, May 20, 2016

ZIRP continues to take toll on Chicago

Stand by Chicago a higher risk free rate may be on the way from the Fed.

highlights the long-term pressure on the city from shortchanging its retirement funds year after year -- decisions that are now adding hundreds of millions of dollars to its annual bills and have left it with a lower credit rating than any big U.S. city but once-bankrupt Detroit.

1 comment:

Malmo's Ghost said...

The state needs to secede from Chicago. Pound for pound the most corrupt city in America. Thankfully the city's wretched tentacles have not broken the pension funds of Cook County employees or MWRD, both of which are relatively well funded and most importantly independent of that pox called Chicago.