How Pension Obligation Bonds Failed in a Red State

Which state: Alaska

Who wanted pension obligation bonds in Alaska? Governor Bill Walker intended to have the state offer bonds for sale to cover a multibillion dollar budget deficit in Alaska

Who stopped the Governor from proceeding? The Alaska Senate Finance Committee

What argument did the Senate Finance Committee offer to stop the sale of pension bonds? 

• Senate Finance members objected to the state taking on more debt
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• S&P Global Ratings warned that Alaska credit rating  would be downgraded

Reuters | Alaska governor halts sale of pension obligation bonds