Last week, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. Today, it’s Fitch Ratings that’s downgrading CPS. The school district’s credit rating now sits at A with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Fitch, the downgrade was caused by the district’s deteriorating...

Concern over underfunding of both public and corporate pension plans has Republican presidential candidate Mitt Romney, his party and other conservatives making a pre-emptive strike against the idea of federal government bailouts.

The financial meltdown and Great Recession is teaching an expensive lesson: When big institutions face financial crises, governments are all too eager to bail them out.

On Thursday, Moody’s Investors Service downgraded the credit rating of Chicago Public Schools. The school district’s credit rating now sits at A2 with a negative outlook, the same rating given to Illinois, which has the lowest rating of all 50 states. According to Moody’s, the downgrade reflects CPS’s weakened financial condition, caused primarily by the facts that:...

Last week the Illinois Policy Institute launched "NoPensionBailout.com," a national project aimed at preventing a federal bailout of state pension debt.