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How Chicago has used financial engineering to paper over its massive budget gap
Yahoo Finance ^
| March 30, 2015
| Kristi Culpepper
Posted on 03/30/2015 6:15:58 PM PDT by reaganaut1
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To: reaganaut1
Financial Engineering = Cooking the books
2
posted on
03/30/2015 6:17:01 PM PDT
by
Bon mots
To: Bon mots
3
posted on
03/30/2015 6:17:45 PM PDT
by
BenLurkin
(The above is not a statement of fact. It is either satire or opinion. Or both.)
To: reaganaut1
It’s the “Chicago Way” of running a government.
4
posted on
03/30/2015 6:18:07 PM PDT
by
RetiredTexasVet
(There is an uncanny similarity between a pack of jackals and the MSM news readers.)
To: BenLurkin
We need a cookthebooks.com to expose govt fraud.
5
posted on
03/30/2015 6:19:30 PM PDT
by
stephenjohnbanker
(My Batting Average( 1,000) (GOPe is that easy to read))
To: reaganaut1
Great! They use the same method as Governor Jindal....Louisiana will be destitute, January, 2016; and term limited Bobby will be out of office...leaving a ruined state for the next Guv.
6
posted on
03/30/2015 6:20:11 PM PDT
by
SgtBob
(Freedom is not for the faint of heart. Semper Fi!)
To: reaganaut1
The guys at ENRON used Financial Engineering too and went to jail for a long time. Of course they aren’t “Gub’ment Certified” Financial Engineers, so... ya know...
7
posted on
03/30/2015 6:21:41 PM PDT
by
Mad Dawgg
(If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
To: reaganaut1
Looks like they ran out of others peoples money
To: reaganaut1
You know a city is desperate for cash when it sells the parking meter concession to a private company, on a decades long contract, for a quick infusion. You just don’t sell sources of steady revenue like that unless it’s a last resort.
9
posted on
03/30/2015 6:25:38 PM PDT
by
Boogieman
To: Steven Tyler
“Looks like they ran out of others peoples money’
When they can’t even dream up a way to steal, you KNOW they are in trouble : )
10
posted on
03/30/2015 6:27:14 PM PDT
by
stephenjohnbanker
(My Batting Average( 1,000) (GOPe is that easy to read))
To: reaganaut1
11
posted on
03/30/2015 6:47:11 PM PDT
by
Nuc 1.1
(Nuc 1 Liberals aren't Patriots. Remember 1789!)
To: reaganaut1
Baa Baa…sheep getting sheared by Chicago socialists.
12
posted on
03/30/2015 6:47:58 PM PDT
by
PGalt
To: Bon mots
If a US corporation did anything like this, the stock would be about zero and the officers in prison.
13
posted on
03/30/2015 6:51:14 PM PDT
by
The Antiyuppie
("When small men cast long shadows, then it is very late in the day".)
To: Boogieman
“You just don’t sell sources of steady revenue like that unless it’s a last resort.”
I think that it was spending it in a few years that was the problem. It’s like drugs to these politicians.
14
posted on
03/30/2015 6:53:00 PM PDT
by
The Antiyuppie
("When small men cast long shadows, then it is very late in the day".)
To: reaganaut1
They expect a Federal bailout when needed.
Depending upon who the President is at that time, they'll probably get it - since Congress has abdicated all its authority over budgetary issues.
15
posted on
03/30/2015 7:07:44 PM PDT
by
Mr. Jeeves
(Heteropatriarchal Capitalist)
To: reaganaut1
Enslaving future generations in perpetual debt to pay for our wants today.
I thought Slavery was Evil, unless you are a Muslim.
16
posted on
03/30/2015 7:13:12 PM PDT
by
eyeamok
To: reaganaut1
They cannot stop. Chicago is built on racial politics and payoffs. That’s why the Dems are done.
If Bush had allowed the economy to collapse naturally the end of Dem urban control would have come sooner. The economy would be in a full recovery today.
Instead he tossed them a lifeline and allowed the Fed to grow new bubbles.
17
posted on
03/30/2015 7:20:18 PM PDT
by
1010RD
(First, Do No Harm)
To: SgtBob
18
posted on
03/30/2015 7:20:57 PM PDT
by
1010RD
(First, Do No Harm)
To: reaganaut1
California’s doing the same thing.
19
posted on
03/30/2015 7:56:19 PM PDT
by
4Liberty
(Prejudice and generalizations. That's how Collectivists roll......)
To: RetiredTexasVet
It’s the “Chicago Way” of running a government. Not to mention, in a larger context, "the Illinois way" and the "Federal way".
20
posted on
03/30/2015 11:32:43 PM PDT
by
Paul R.
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