[taildragger]

"Sandack’s legislation would allow Chicago Public Schools and other cash-strapped school districts across Illinois to seek Chapter Nine bankruptcy protection. Federal bankruptcy judges could then order debt restructuring, which could include partial or full release from pension obligations."

Don't bet on it. Look @ the GM Bankruptcy. Their Pension was not shut down and then ERISA stepping in which is SOP. Obama has fundamentally transformed contracts and bankruptcy laws. Funny thing is he was hands off with Detroit, their must be no gain in it for him. Chicago on the other hand...

[Cincinatus' Wife]

Interesting....