Pension fund fraud -- sounds like Cincinnati to us!

Finally the Securities and Exchange Commission has come down on a fraudulently-run pension system, in this case the Illinois state pension system, a Ponzi scheme on the magnitude of that run by Bernie Madoff.

But what about Cincinnati's system, more than $700 million in the hole, and annually under-funded.

The bills will come due, someday, ladies and gentlemen.  And we will get to pay them!