“Chicago Mayor Rahm Emanuel is bullish on the stock market. That’s one implication of the plan he offered up to bolster the city’s struggling pension funds before he leaves office in May. It calls for selling $10 billion of bonds and handing the money over to its pensions … It’s like a massive margin loan, secured by Chicago’s tax dollars. … During the last recession, state and city pension funds were hit hard when the value of their investments plummeted. Emanuel’s plan suggests he’s not worried that it will happen again. Or at least not on his watch.”