Possible gubernatorial candidate releases statement regarding lawsuit facing Illinois
CHICAGO-- A possible challenger for Gov. Pat Quinn come 2014 has some thoughts on the state facing securities fraud.
Last week the Securities and Exchange Commission filed suit against Illinois that it misled investors as to how poor the state’s finances actually were.
In a written statement, Bruce Rauner says lawmakers have been lying to the residents of Illinois for years, counting borrowed money as revenue, and not counting unpaid bills as an expense. He says on his state-wide listening tour, “people have continued to express their dissatisfaction with corrupt lawmakers, and they believe it will take an outsider to fix the problems.
Illinois only has 40% of its pension funded, with close to $100 billion in unfunded liabilities. The SEC states that Illinois’ lack of transparency is not only unacceptable, but also illegal.