Home WP Original Stories Audio – Wirepoints Founder Mark Glennon Interview on Bankruptcy an Option for... Audio - Wirepoints Founder Mark Glennon Interview on Bankruptcy an Option for Illinois - KFTK - YouTube March 27, 2017 5 Share on Facebook Tweet on Twitter ShareTwitterEmailPrintGoogleFacebook Read Article Sort by: newest | oldest PatrickI’ve been a common sense proponent for filing bankruptcy for years. There’s no way Illinois will ever be able to pay those ridiculous and obscene pensions, never! The smart people have moved, or are planning on moving our of Illinois. Once the legislation passes to transfer the teacher pension obligations back to the local school districts, look out! House values will plummet big time. Hope this helps, and good luck. 2 months 30 days agoDougPatrick, “Once the legislation passes to transfer the teacher pension obligations back to the local school districts, look out! House values will plummet big time.” How realistic is this to happen? Who would want to vote “Yes” in the IL legislature to force this? 2 months 30 days agonixitI would guess the teacher unions would fight this tooth and nail. They like the current disconnect with one govt entity paying the salaries and another govt entity paying for the retirement as it’s easier to hide the true cost of the entire compensation package. 2 months 29 days agobob oriole parkAt 3:10 you mention unsecured bonds, but aren’t most of them secured by (various) tax revenue streams? And if that’s the case, does that mean essential services get no money while the bondholders get it all? 2 months 30 days agoWirePointsSome are secured and some (conventional general obligation bonds) are not. You’re probably thinking about municipal bonds for cities and towns, where security is typical. Secured bonds would have to be paid in bankruptcy, but unsecured bonds could get cut. I don’t have a good handle on how much of state bonds are unsecured and how much is secured. That’s very important and I continue to look for a good inventory or list of that. 2 months 30 days ago wpDiscuz Recent Wirepoints Originals Speech Muzzlers Triggered: Chicago’s Theater Community On The Attack – WP Original June 21, 2017 Together we make great theater -- unless you disagree with us, in which case you're a bigot. New Study Details How Pensions Exploit New And Younger Teachers – Wirepoints Original June 14, 2017 Illinois gets an 'F' as you'd expect, but we have plenty of company on this. Why You Shouldn’t Believe The Illinois Budget Deficit Numbers Released This Week – Wirepoints Original June 11, 2017 True numbers are 2X or 3X worse and show the genuine bind Illinois is in -- not just an ego clash between Rauner and Madigan. Wait for July To Downgrade Illinois Bonds To Junk — For The Subprime Anniversary – WP Original June 9, 2017 And a look ahead for the near term. Would Congress Authorize Bankruptcy for Illinois and Other States? Yes, Inevitably. – Wirepoints Original June 4, 2017 All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. -Arthur Schopenhauer. And thanks to ZeroHedge for republishing this article. COGFA: State of IL Revenue Up In May But Still Down For Year – WP Original June 4, 2017 Up 7% for the month but still down 3.5% for the year-to-date. Great Speech By Rep. Jeanne Ives On ‘Union Thugs’ Vandalizing Construction Site of a State Rep. They Don’t Like – WP Original June 2, 2017 And shame on most of the Illinois press for ignoring this crime. Video: IL State Senator, Clueless About Bill He Sponsors, Blames Questioning On His Mexican Heritage – WP Original June 1, 2017 Truth is, most of the rest of the legislature doesn't know what the bill does either. It still passed. Same with most of what they rushed through this week. Skim through this database of City of Chicago salaries (and don’t vomit) – WP Original May 31, 2017 Names, titles, salaries and more.