* Progress Illinois tried to do a follow-up to the coverage of Ty Fahner’s comments that he and members of the powerful Civic Committee met with ratings agencies in an apparent attempt to jaw down Illinois’ credit ratings.
The PI folks didn’t get very far. Those refusing comment included…
* Gov. Pat Quinn
* The Civic Committee
* Fitch Ratings
* Moody’s Investors Services
* Standard & Poor’s
* From their story…
(T)he government has an “obligation to shine some light” on the Civic Committee’s apparent lobbying of the three main credit rating agencies to ensure no illegal activity occurred and that “these corporate giants didn’t profit in some way by this back-room phone calling,” said Bill Looby, a spokesman with Illinois AFL-CIO.
“This is wrong on a lot of different levels,” Looby continued. “If it’s not illegal, it should be. And we should find out what happened, and who did it, and how it was accomplished, and whether or not there was anyone that benefited from it.”
Overall, Lindall says it is “repulsive” to see Fahner furthering the Civic Committee’s “misinformation campaign” to portray the modest and well-deserved $32,000 average pension of a retired employee as “what’s wrong with state government.”
“It goes much further when it appears that, by their own admission, these tremendously powerful CEOs and lobbyists are working behind closed doors to manipulate the creditworthiness, and therefore the cost to taxpayers of the state and the people of Illinois,” he said.