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Old 06-12-2017, 07:59 PM
 
30,915 posts, read 37,073,919 times
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This article from the Fiscal Times states it as a distinct possibility:

Could Illinois be first state since Depression to go bankrupt?
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Old 06-12-2017, 08:28 PM
 
2,568 posts, read 2,536,876 times
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Ask the grand poobah,..............Madigan!
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Old 06-13-2017, 06:52 AM
 
Location: northwest valley, az
3,424 posts, read 2,937,575 times
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states can NOT file bankruptcy, so no, it wont EVER happen
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Old 06-15-2017, 06:44 AM
 
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Quote:
Originally Posted by wase4711 View Post
states can NOT file bankruptcy, so no, it wont EVER happen
They can default though.
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Old 06-15-2017, 02:20 PM
 
Location: Saint John, IN
11,581 posts, read 6,771,170 times
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Quote:
Originally Posted by wase4711 View Post
states can NOT file bankruptcy, so no, it wont EVER happen


States can not file bankruptcy, but cities can. Maybe Chicago will.


State can't declare bankruptcy | News-Gazette.com


http://www.bankrate.com/finance/econ...kruptcy-1.aspx
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Old 06-15-2017, 02:26 PM
 
Location: Florida -
10,213 posts, read 14,878,931 times
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Chicago won't be first! Detroit became the largest city to file bankruptcy - in 2013. In total, 51 cities had filed bankruptcy by 2015.

Bankrupt Cities, Municipalities List and Map
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Old 06-16-2017, 08:46 AM
 
3,606 posts, read 1,804,343 times
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Quote:
Originally Posted by wase4711 View Post
states can NOT file bankruptcy, so no, it wont EVER happen
That's not a positive for IL, that's a negative.
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Old 06-16-2017, 09:41 AM
 
28,453 posts, read 85,586,764 times
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The thing is that if Madigan decides that he likes the idea of a bankruptcy that gives him "cover" to say "it was not me that weaseled out of the pensions but the court order bankruptcy administrator" that would allow him to "save face" with the union imbeciles that will continue to support the lying Democrats. I could totally see that happening. Folks in the Federal legislature would be covered too -- with scum nepotist Democrats like lil' fish boy Lipinski in the minority in the House of Representatives and equally slimy Durbin in the same minority in the Senate they could easily claim they were "powerless" to do anything. Of course Trump, who has used bankruptcy many times, would not veto any such measure. It only takes the right person to offer a bil and WHAM Illinois is marching through the Federal bankruptcy courts!
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Old 06-16-2017, 09:54 AM
 
Location: northwest valley, az
3,424 posts, read 2,937,575 times
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i think more tax increases will come first before any sort of discussion about allowing Illinois to file bankruptcy

cullerton and madigan have been floating this tax increase idea in the media the last few days, and no one seems to be objecting..

pathetic, and sickening for the average working folks in this state, but, you can always move elsewhere..
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Old 06-17-2017, 07:47 AM
 
1,068 posts, read 926,385 times
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Illinois will file for bankruptcy. Federal rules will be changed allowing states to file because so many have huge pension deficits that will never be paid back. It will be a long battle but some legal option allowing a whole state to file will be created. When's the last time a budget had an extra $1 billion....let alone $200 billion? Never gonna be paid back...
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