Illinois State Treasurer Michael Frerichs on diversity and the state's finances

The video discusses the Diversity Disclosure Initiative, which urges US public companies to disclose the racial, ethnic, and gender makeup of their boards. Illinois Treasurer Michael Frerichs explains the initiative's goals and the importance of transparency. The video also covers the impact of COVID-19 on Illinois' economy, the state's financial challenges, and potential solutions, including the use of the Federal Reserve's municipal liquidity facility. Additionally, it addresses the proposed graduated income tax and concerns about Illinois' credit rating.

What lessons does the Illinois Treasurer mention learning from the Great Recession of 2008-2009?

What is the significance of the rainy day fund mentioned in the text?

What potential consequences does the Illinois Treasurer foresee if stimulus measures are not implemented soon?