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Chicago’s Pension Funds are Nearly Insolvent – Incoming $28m Bailout
by Martin Armstrong, Armstrong Economics: Chicago’s money trees are shedding their autumn layers with a new multi-million dollar government payout package for underfunded public pensions. City officials approved a short-term bailout of the Firemen’s Annuity & Benefit Fund to the tune of $28 million to avoid forced asset sales. That is merely the tip of […]
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