The Chicago Tribune
Borrowing billions to lower Chicago's pension debt? Emanuel's finance team is considering it.
Another bond analyst, Matt Fabian, frowned on the whole idea.
“There is no best practice for pension obligation bonds,” Fabian, a partner at Municipal Market Analytics, said in an email response to Tribune questions. “When you invest borrowed money, you lose twice if the stocks you buy decline in price.
“The ‘hysteria’ about pensions is very effective in marshaling fiscal discipline,” Fabian added. “Would be a shame to lose that.”