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TOP 5 MYTHS ABOUT THE MINIMUM WAGE
http://www.breitbart.com/Big-Govern...age?utm_source=twitterfeed&utm_medium=twitter
Illinois became the second state to settle with the U.S. Securities and Exchange Commission over charges it misled investors about a growing shortfall in its employee pension funds as it sold $2.2 billion in bonds.
From 2005 to 2009, Illinois failed to disclose how much it was underfunding the plans, the SEC said today. The state didn’t adequately disclose cuts in its annual payments to buoy the fund, the agency said. Its pension-fund debts swelled as the state borrowed and used accounting techniques that delayed for years steps to shore up the systems, the agency said.
The SEC has been cracking down on faulty disclosure by state and local governments that borrow in the $3.7 trillion municipal-bond market. It settled a similar case with New Jersey in 2010, the first time the regulator targeted a state.
“Municipal investors are no less entitled to truthful risk disclosures than other investors,” George S. Canellos, acting director of the SEC’s Division of Enforcement, said in a statement. “Time after time, Illinois failed to inform its bond investors about the risk to its financial condition posed by the structural underfunding of its pension system.”
The state neither admitted nor denied findings in the SEC’s order and cooperated with the agency, according to a statement from Governor Pat Quinn’s Office of Management and Budget. Abdon Pallasch, an assistant budget director for Illinois, said the administration would have no further comment beyond the news release.
New Consciousness
Illinois, which according to data compiled by Bloomberg has the weakest pensions of all U.S. states, is among governments nationwide that face growing retiree burdens since the onset of the 2007 financial crisis, which saddled the systems with losses. States and localities face more than $2 trillion in unfunded public-employee retirement costs, Moody’s Investors Service said in a July report...
more...
http://www.bloomberg.com/news/2013-...tle-sec-charges-over-pension-disclosures.html
Whenever a Breitbart blogger uses the phrase "the truth is..." you should run.
Johhny Bracket Genius Cracker SavAge says
What REGZ?
I sees no REGZ!
Lots of pages = lots of regz.
Dummy.
Here's a reg: "All businesses must close on Wednesday"
Six words good, Shack-eel sized stack bad?
Of course, simpletons need a visual indicator.
The people wasting their time are the rino fools breaking bread at the Jefferson Hotel with a notorious liar.
WRT Obamacare:
I would have made it a one sentence law and regulation:
"All government health programs are hereby merged and all Americans are eligible for coverage"
Done.
Must be good because it's a short stack of papers.