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Cash-strapped Illinois, Chicago seek billions from investors

from The Wall Street Journal

Illinois and its biggest city kick off hundreds of millions of dollars in borrowings, a test of investors’ willingness to lend to stressed governments prone to spending more money than they bring in. The state launched borrowings with about a $440 million bond deal. Analysts expect what could be billions more especially from the state, as it puts together funds to do everything from paying retirees' pensions to launching capitals projects. more

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