Capitol Fax reports:
A commenter mentioned something the other day which caught my eye. The commenter claimed that the Civic Committee’s Ty Fahner admitted in a March speech to the Union League Club that he had actively helped talked down the state’s bond rating in order to put more pressure on the General Assembly to pass pension reform.
There's more :
Maybe sometimes you gotta be irresponsible to be responsible. If a political solution really doesn’t produce a favorable outcome, maybe you really need a market solution. And a market solution, I don’t mean bankruptcy, I mean actually talking down the state rating even further so the state’s bonds essentially become below investment grade. And it drives up the borrowing cost to the state and all of us to a significant level enough that you really feel the public pressure
For all you government workers in unions out there: just a reminder, Rahm
Emanuel is an honorary
member of the Civic Committee of the Commercial Club of Chicago leading the charge for a downgrades.
