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SEC Accuses IL Of Securities Fraud
The feds are accusing Illinois of securities fraud in connection with the state's pension system. The SEC yesterday announced allegations that Illinois had misled investors about the condition of its pension system between 2005 and 2009. The state issued two-billion dollars worth of bonds during that time period. This is just the second time in recorded American history when a federal agency accused an individual state of securities fraud.
Senate Hearing On Unpaid Bills Today
The senate is taking a look at the state's nine billion dollars worth of unpaid bills today. A committee will hear from several groups about just how bad the problem is. Schools, hospitals, and even businesses across Illinois have been forced to operate without payment from the state. The 2011 income tax hike was supposed to pay the debt off but Comptroller Judy Baar Topinka says not a dime of the additional cash has gone toward the bills.
Farmers Rejoice Over Recent Rain
Illinois farmers are rejoicing over recent precipitation. Officials say the recent rain and snow has doubled the typical amount of precipitation by this time of year. Farmers in Illinois are thrilled as its annual corn crop gets planted in April. In a typical year, Chicago receives four-inches of rain
by early March, but the total at O'Hare International has already surpassed eight-inches in 2013.
Schools Facing Sanctions After Intense Basketball Game
Two Illinois schools are facing sanctions after a championship basketball game on Saturday. IHSA Director Marty Hickman says players and coaches at Harrisburg High and Seton Academy were out of control. He says he threatened to cut the game short because the fouls and emotions were so intense. Harrisburg ended up winning the game. Seton Academy had a player ejected and coach Brandon Thomas walked off the court after the game without shaking hands and refused to accept the second place trophy. The teams were given police escorts to their buses after Thomas had a verbal exchange with a fan.
Illinois Man Wins On Millionaire Show
He may not be a millionaire but one Machesney (muh-CHEZZ-nee) Park man is 12-thousand 500 dollars richer. Tim Gomez appeared on the popular TV show, "Who Wants to be a Millionaire" yesterday. He answered six questions right before getting stumped on the official name of Christopher Columbus' ship called the Nina [[ Neen-ya ]]. Gomez chose to walk away with half his cash as opposed to risking all but a grand.
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