June 14, 2011 Readings
"The Gap between States’ Fiscal Obligations and their Funding and What to Do about It?"
1. Nicole Gelinas, “State and Municipal Debt: The Coming Crisis?” February 9, 2011 (testimony)
2. Robert Novy-Marx and Joshua D. Rauh, "The Liabilities and Risks of State-Sponsored Pension Plans"
3. Joshua D. Rauh and Robert Novy-Marx, "Policy Options for State Pension Systems and Their Impact on Plan Liabilities"
4. David A. Skeel, Jr., Written Testimony Before the Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs
5. Uniform Management of Public Employee Retirement Systems Act (Annotated)
6. Financial Martial Law in Michigan