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Illinois will pay an extra $130 million in interest on a bond issue this week. Thank the Civic Committee.

August 7, 2013

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By his own admission, Civic Committee head Ty Fahner met with the bond rating agencies and told them to lower Illinois’ ratings.

They did what he asked.

As the question and the answer in the video shows, the intent was to create political pressure on the state legislature to cut constitutionally guaranteed state pension benefits.

It will also cost the state and taxpayers millions of dollars.

Ironic, considering Fahner created a phony front group for the Civic Committee called Illinois is Broke.

This week Illinois will pay an extra $130 million in interest on bonds because of Fahner’s lobbying efforts.

Where is the Attorney General?

Why no investigation?

Where is the press?

Why no stories?

Are they afraid of the Committee of the rich and powerful?

Why else?

2 Comments leave one →
  1. August 7, 2013 10:33 am

    The fact that all of the major press organizations have ignored this story while daily coverage of the Metra “raise scandal” continues speaks volumes about who they are truly working for (and it’s not the taxpayers of this state). It’s going to take a national independent news outlet (Rolling Stones? Huffington Post?) to pick this up and make it a national issue, and I am beginning to doubt that is going to happen.

    Have you noticed how quiet the press has been on the “pensions are the problem” stories the past week or so? Coincidence? I don’t think so…

  2. Anonymous permalink
    August 7, 2013 11:25 am

    Time for a federal investigation

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