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Is the SEC Letting States Get Away With Fraud?
RealClearMarkets Link to more items from this source
[Opinion]
Mar. 20, 2013

"In its complaint against Illinois last week, the Securities and Exchange Commission offered about a dozen instances of how officials 'misled' or failed to properly 'disclose' information to potential investors about the worrying condition of the state's employee pension funds. Some of these lapses, like failing to tell investors that the state's basic plan to finance its pension system was inadequate in the first place, might strike the average investor as serious omissions."

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