Big Illinois names litter road to pension disaster

The Chicago Sun-Times reports:

Federal securities regulators implicitly blamed former Gov. Rod Blagojevich and his budget office for the fraudulent manner in which state bond investors were misled about Illinois’ sickly pension ledgers. But in making a nearly unprecedented case of securities fraud against the state, the Securities and Exchange Commission on Monday laid bare a trail of responsibility for Illinois’ nearly $100 billion pension crisis that extends far beyond the impeached ex-governor’s scandalous time in office.

The great moments of Blue America.