- Fitch Ratings recently downgraded Chicago’s credit rating, moving it closer to “junk” bond status.
- This latest crisis was the result of the state Supreme Court voiding a recent law that tried to boost the two of the city’s pension funds.
- Fitch warned that the city’s credit rating could be further reduced since there is an absence of "a realistic plan that puts the pension funds on an affordable path toward solvency."
- Fitch stated that it believes the state Supreme Court ruling forces the city to continue to fund future promised pension benefits even if the pension funds become insolvent.
- Even worse, the Moody’s rating service has already rated Chicago bonds as junk.
- In total, the city’s four pension plans have a whopping $20 billion in unfunded pension liabilities.
- The city officials warned that two of the pension funds would run out of money within 10 to 13 years.
- There are allegations that the Congresswoman “improperly solicited charitable donations” from a charity that was not actually a charity.
- The so-called charity never obtained official tax exempt status and never filed state or federal income taxes.
- But the so-called charity still raised about $800,000 in donations but in four years issued one $1,000 scholarship.
- Allegedly, an official of the charity withdrew over $140,000 from the charity which were then used for events hosted by or in honor of an unnamed public official, i.e. Congresswoman Brown.
- The Justice Department is now involved in the investigation, never a good sign for an alleged law breaker.
- Loretta Lynch will have the final say in whether or not Hillary is indicted, assuming that the FBI recommends an indictment based on their extensive investigation.
- But Lynch used to work for the Washington based international law firm of Hogan & Hartson from 2002 through 2010.
- She was a litigation partner at the firm.
- But one of the firm’s partners was the tax lawyer who filed tax returns for Bill and Hillary Clinton starting in 2004.
- Additionally, the law firm filed a patent trademark request for the Denver-based MX Logic company in 2004, the same MX Logic firm that developed the email encryption program used to manage Hillary’s private and illegal private email system.
- Experts have previously stated that employees of MX Logic could have access to the all of the emails that went through her illegal server.
- Bill Clinton helped Lynch get appointed to her two terms as a U.S. attorney for the Eastern District of New York.
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