If you can't pay what you promised your creditors you are bankrupt. Chicago has no way to pay its current pension funding obligations. So the city of shiny lakefront baubles is just plywood and lathe from the back. Of course most big, perpetually blue cities are really carcasses bloating in the sun, just waiting to explode.
http://blogs.the-american-interest.com/wrm/2013/12/05/countdown-to-chicago-pension-war-begins/
No comments:
Post a Comment