State Treasurer To Protect Illinois Investments In Case Of Default

CHICAGO (CBS) — State Treasurer Dan Rutherford has outlined his plan to protect Illinois investment dollars in case of a federal default.

As WBBM Newsradio 780’s John Cody reports, at the Thompson Center downtown Friday, Rutherford said if the federal government does indeed default, he will park $7 billion investment dollars in 0 percent federally insured accounts if he has to.

LISTEN: Newsradio 780’s John Cody reports

But Rutherford says he will not expose any Illinois dollars to risk.

Rutherford says in his capacity as the treasurer, he has no official opinion whether the federal government will default.

But as a citizen of Illinois, he thinks Washington will somehow find a way around and avoid a default.

  • Jim McC

    Did I read this right? Cody does not trust the US Treasury but does trust the FDIC which is backed by the US Treasury????

  • Jim Mcc

    oops… I meant to say “Cody reports that Rutherfor…”.. my copy and past button has a loose nut on it. Maybe I belong in Goverment service? haha

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