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CHICAGO -- Union groups are calling for an investigation after the President of a Chicago civic group said members of his group lobbied to have the state's credit rating lowered in response to the state's pension crisis. Ty Fahner, President to the Civic Committee of the Commercial Club of Chicago, made the admission while speaking before the Union League Club.

Friday 26 July 2013

CHICAGO -- Union groups are calling for an investigation after the President of a Chicago civic group said members of his group lobbied to have the state's credit rating lowered in response to the state's pension crisis.

Ty Fahner, President to the Civic Committee of the Commercial Club of Chicago, made the admission while speaking before the Union League Club. In a statement which was recorded and posted on the Capitalfax.com website, he says back in March, "The Civic Committee, not me, but some of the people that make up the Civic Committee... did meet with and call - in one case in person - and a couple of calls to Moody's and Fitch and Standard & Poors, and say 'How in the hell can you guys do this (not lower the state's credit rating)? You are an enabler to let the state continue. You keep threatening more and more and more. ... And I think now we've backed off. We don't want to be the straw that broke the camel's back... It hasn't been irresponsible, but we have told them that we thought they were being irresponsible. But we stopped that a couple of months ago."

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