Further to our discussion of Detroit’s pension, we see that Missouri’s public pension is in a lawsuit with State Street Bank over their securities lending program. These programs are intended to act like demand deposits — but the dollars are huge,… Continue Reading →
The city of Detroit does not need another financial setback. With unemployment topping 17% and ever increasing short term borrowing, the city is under an immediate survival imperative to cut spending or face insolvency. State revenue sharing is being cut… Continue Reading →
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