[B]ut California too is now starting to hand it to bondholders. Cities in California are now testing the limits of bankruptcy law, and not paying the debt nor the payments for retirees to the state system. Thus this article describes how the state retirement system...
A new report being issued today — see the bottom of this post — from the Pew Center on the States says that Illinois once again ranks 50th of the 50 states in assets relative to liabilities. But while Illinois’ absolute position did not sink — a mathematical...