They also play 'Guess The Party' in their coverage of a recent SEC accusation that the State of Illinois committed fraud. This is the closest they come to covering the partisan turf:
For the second time in history, federal regulators have accused an American state of securities fraud, finding that Illinois misled investors about the condition of its public pension system from 2005 to 2009.
In announcing a settlement with the state on Monday, the Securities and Exchange Commission accused Illinois of claiming that it had been properly funding public workers’ retirement plans when it had not. In particular, it cited the period from 2005 to 2009, when Illinois also issued $2.2 billion in bonds.
The charges put the state’s pension system, generally thought to be the weakest of any state, back in the national spotlight. In his budget address last week, Gov. Pat Quinn, a Democrat, issued a clear warning that the system had to be fixed.
Huh? Surely they have more? Well, there is this:
By 2003, the state was so far behind that it issued $10 billion of bonds and put the proceeds into its pension funds to make them look flush. The main underwriter of those bonds, Bear Stearns, was later found to have made an improper payment to win the business, figuring in the corruption trial of a former governor, Rod R. Blagojevich.
Well, folks may recall that Blago was famously involved in trying to sell the appointment to Obama's Senate seat, vacated as of Jasnuary 2009. But lest you wonder, he is a Democrat, and was governor during the time period cited by the SEC.