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Illinois governor dares lawmakers in growing Democratic Party feud

CHICAGO (Reuters) - Illinois Governor Pat Quinn on Wednesday said state lawmakers mad at him for suspending their pay should vote to overturn his action instead of suing him, the latest volley in a growing feud within the Illinois Democratic Party.Full story

Chicago's budget gap seen jumping to $1 billion without pension fix

CHICAGO (Reuters) - Chicago's preliminary budget gap is expected to fall next year but is on track to nearly triple in 2015 without pension reform, Mayor Rahm Emanuel said on Wednesday. Full story

Former Tamarack suitor gets 17 years in prison

The man who once tried to buy Idaho's cash-strapped Tamarack Resort was ordered Wednesday to immediately begin serving 17 years in prison for raiding pension funds to help finance the deal. Full story

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Analysis: Population trends cloud Europe's post-recession outlook

Analysis: Ford could close U.S. pension funding gap by end of 2014

Michigan attorney general sees no conflict in defending Detroit retirees

Illinois legislative leaders sue governor over pay veto

Michigan attorney general backs pensioners in Detroit bankruptcy

Detroit bankruptcy another setback for unions

Report: Detroit's bankruptcy could set tone

Comptroller says she can't pay Illinois lawmakers

Chicago schools budget seen sinking deeper in the red despite cuts

Detroit manager scores first win over unions in bankruptcy bid

Video

  Pensions: The next investing challenge

Verne Sedlacek, Commonfund president & CEO, discusses the problem of underfunded pensions, and why it will continue to be an issue for the next decade.

  King: Many people commenting on Detroit, don't know Detroit

In the last week, conservatives have put much of the blame of Detroit's financial woes on unions. Joining Ed Schultz to discuss are President of the United Auto Workers, Bob King and Rev. Wendell Anthony from the Detroit branch of the NAACP.

  Woonsocket, RI suffers from major deficit, pension issues

Mayor Leo Fontaine of Woonsocket, Rhode Island joins MSNBC’s Alex Witt. He talks about Woonsocket’s financial crisis and what his city is doing to avoid filing bankruptcy.

  Which US cities could follow after Detroit?

Time's Michael Duffy joins Morning Joe to reveal the magazine's latest issue, which looks at the financially troubled city of Detroit, which just recently attempted to file for Chapter 9 bankruptcy and faces a debt of $18 billion.

  Will Detroit’s bankruptcy problems help other cities?

Yahoo Finance’s Rick Newman chats with the Cyclists about how the Motor City’s problems may help other local governments teetering on the brink of a bankruptcy.

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Related Photos

The city of Central Falls Rhode Island cut the pension benefits of the Police and Fire Department retirees and their families after the town declared bankruptcy in 2011.
The city of Central Falls Rhode Island cut the pension benefits of the Police and Fire Department retirees and their families after the town declared bankruptcy in 2011.

The city of Central Falls Rhode Island cut the pension benefits of the Police and Fire Department retirees and their families after the town declared bankruptcy in 2011. Those affected by the cuts include, from left, front-row, retired police Sgt., Thomas E. Cawley, Jr., , Joyce Gillis, widow of ret

An employee holds documents used to subscribe for pension funds inside an office of Doverie in Sofia
An employee holds documents used to subscribe for pension funds inside an office of Doverie in Sofia

An employee holds documents used to subscribe for pension funds inside an office of Doverie, the country's biggest private pension fund, in Sofia July 23, 2013. UK-registered company United Capital, the selected buyer of Bulgaria's largest private pension fund Doverie, said on Friday it plans to fil

An employee walks out of an office of Doverie, the country's biggest private pension fund, in Sofia
An employee walks out of an office of Doverie, the country's biggest private pension fund, in Sofia

An employee walks out of an office of Doverie, the country's biggest private pension fund, in Sofia July 23, 2013. UK-registered company United Capital, the selected buyer of Bulgaria's largest private pension fund Doverie, said on Friday it plans to file soon for regulatory approvals with Bulgarian

Brochures are displayed inside office of Doverie, the country's biggest private pension fund, in Sofia
Brochures are displayed inside office of Doverie, the country's biggest private pension fund, in Sofia

Brochures are displayed inside an office of Doverie, the country's biggest private pension fund, in Sofia July 23, 2013. UK-registered company United Capital, the selected buyer of Bulgaria's largest private pension fund Doverie, said on Friday it plans to file soon for regulatory approvals with Bul