Broke And Desperate, Part 1: Chicago Pawns A Crown Jewel

The following excerpt is from an article that originally appeared on Dollar Collapse

A new bond issue from Chicago is rated AAA. That’s great because it means the city’s finances are on the mend, right? Nope, just the opposite. Here’s the story: Bondholders fret as alchemy turns Chicago’s junk to gold (Bloomberg) — Chicago’s public pension debt is $36 billion and growing, it’s facing $550 million in budget […]

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