SPRINGFIELD-Illinois broke federal securities laws in misstating the true health of the state's depleted pension funds when going out onto the bond market between 2005 and early 2009, the Securities and Exchange Commission announced Monday.
The finding of securities fraud doesn't subject the state to any fines or penalties but amounts to a warning to potential investors about the state's past financial misdeeds.
The action focuses mostly on misstatements made during impeached ex-Gov. Rod Blagojevich's administration, though Gov. Pat Quinn's administration wasn't spared entirely in the federal order.
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4 comments:
And where was their self-proclaimed almost jesus Senator who knows the law and should've sounded the whistle? "O" I forgot, he was doing other questionable things and sealing his records so no one could find out.
Obamaland. Illinois.
The cradle of extremists, communists, Union and political thugery.
Aren't Obama supporters proud?
This really shouldn't be a big surprise now....should it?
They should just line up bulldozers and push the whole area into the lake.
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