The United States Securities & Exchange Commission determined that the State of Illinois violated Federal Securities Laws by misstating the true financial health of the State's depleted pension funds when it raised over $2.2 billion with multiple bond offerings from 2005 through early 2009.
http://www.breitbart.com/Big-Govern...DS-STATE-OF-ILLINOIS-VIOLATED-SECURITIES-LAWS
http://www.breitbart.com/Big-Govern...DS-STATE-OF-ILLINOIS-VIOLATED-SECURITIES-LAWS