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.READ MORE: 16-Year-Old Boy, 27-Year-Old Xavier Guzman Charged In Murder Of 8-Year-Old Melissa Ortega
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.MORE NEWS: View Live Radar
But as a citizen of Illinois, he thinks Washington will somehow find a way around and avoid a default.