How Chicago has used financial engineering to paper over its massive budget gap

Irony is that Islam outlaws debt interest slavery

Yeah, really...he’s a Prez wannabe. Don’t trust the media, and don’t believe your lying ears. Do your own home work. Jindal has run around the country touting cutting government employment by 30,000...yet the payroll goes up by 1.5 million....go figure that one out.

$1.5 million dollars? Can you share some links? I’m not doubting you, just wanting to understand it better.

Kristi Culpepper, a muni-bond expert, exposes Chicago’s bond financing scheme as a house of cards. Culpepper examined the city's bond documents to uncover taxpayers paying billions for greedy politicians' shady financial legerdemain: including using long-term financing to cover day-to-day expenses, using bonds to pay pension obligations, and, misappropriating returns from the interest rate swap portfolio as an “ATM” for the city.

Remember, the kingpins of Chicago criminal politics moved into DC with Obama. The stench from the Chicago sleaze is permeating the air... starting w/ Obama's ex-COS Mayor Rahm Emanuel.

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FACTOIDS Bonding is eternal taxation----the insider deals bonding companies made w/ shady pols to get the bonding business would tell a tale of greedy pols accumulating riches through massive govt corruption.

If these bonding deals were effectuated by way of referendum at the ballot box----and misled investors into buying tax-fee muni bonds----the SEC would be interested. EMAIL enforcement@sec.gov

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THIS MADE ME LAUGH OUT LOUD shortly after quitting his powerful WH job as Obama's COS, Rahm held a presser declaring he "just remembered" he really, Really wanted to be Mayor of Chicago. Then Rahm announced he had magically "raised" $30 million for his campaign in "just a matter of weeks." (waiting for hysterical laughter to die down).

Ya gotta wonder how much the cunning onetime Wall Streeter wired offshore when Obama put Rahm--in a dual role---as his COS....... AND in charge of the entire US Treasury.

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BACKSTORY---THE KINGPINS OF CHICAGO CRIMINAL POLITICS IN OUR WH wasted no time.....they had a stranglehold on the Census, AND the US Treasury, from day one.

The minute Obama/Valerie/Rahm/Axelrod/Geithner, and that Practiced bunch of Chicago criminals, landed in the WH they did two things that were apparently crucial to their evil plans

(a) they took control of the US Census;

(b) Obama placed his COS Rahm Emanuel in control of the US Dept of the Treasury (cabinet-level agency oversees IRS).

THE SMOKING GUN---WSJ REPORT--On Jan 20, 2009 Timothy Geithner was appointed Obama's Secy of the Treasury. But within three weeks, the Obama White House tightened its grip on Treasury. Obama put his COS, Rahm Emanuel, in charge of Treasury---Rahm Emanuel's dual role was an unusual move.

When he got to Treasury, WH COS Rahm Emanuel was so involved in the inner workings of the Treasury that the phrase "Rahm wants it" had become an unofficial mantra among subservient govt staffers, prostrate in obeisance, scurrying to accede to Rahm's wishes, according to Treasury government officials. Reported by WSJ / 05/31/09

More here: http://online.wsj.com/article/SB124113406528875137.html

Bonding is eternal taxation---- the insider deals bonding companies made w/ pols to get their bonding business would tell a tale of greedy pols accumulating riches through massive govt corruption....might include forgery, falsification of official records, fraudulent state budget entries, tax evasion, illegal wire-transfers, misuse of public office.

Tax-exempt municipal bond investors (including public education bond investors)-- have legal grounds to sue if they were deceived about deceptive bond offerings.

In many cases, bond issues are approved by voters---at the ballot box--so that voters may have also been misled WRT uses of fraudulent bond offerings.

Also culpable are:

<><> bonding companies underwriting possible fraudulent bond issues;

<><> banks holding possibly fraudulent bond proceeds;

<><> State's modus operandi in allocating tax-exempt bond proceeds,

<><> the sub rosa acceptance of bond proceeds.

<><> state vendors accepting possible fraudulent bond proceeds.

<><> publicly-funded state agencies advocating the uses of fraudulent bond proceeds.

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The SEC, FBI, banking overight agencies and IRS, would be interested in the activities of state entities WRT bonding.

EMAIL---FBI TIPS PAGE https://tips.fbi.gov

EMAIL--enforcement@SEC.gov

Contact the IRS Fraud Unit

EMAIL Banking oversight agencies

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Taxpayers should find out which banks are facilitating this.
<><> Which banks are designated the repositories of municipal tax dollars.
<><> Which banks are dispensing tax-exempt bond proceeds.

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REFERENCE SOURCE: web site / occ.gov

The Office of the Comptroller of the Currency processes questions and complaints concerning consumer issues within the jurisdiction of the OCC through our Consumer Assistance Group (CAG) (and sends misdirected complaints to the appropriate federal or state regulator).

OCC processes complaints involving national banks and federal savings associations with more than $10 billion in assets on behalf of the CFPB, while the CFPB builds its capacity to handle complaints. Under this approach, the CFPB will begin by handling credit card related complaints involving national banks and federal savings associations with assets of $10 billion or more and will expand its complaint process to other products and services offered as the new bureau builds that capacity through March 2012.

Consumers can contact the bureau through its Web site, consumerfinance.gov, or by phone at 855-411-2372. Consumers may use the FFIEC site to identify a financial institution's primary regulator, or may use the FDIC institution directory to identify which institutions have more than $10 billon in assets.

For specific problems with a financial institution other than a national bank, contact the customer assistance:
(1) State Banking Department WRT a state bank
(2) Federal Deposit Insurance Corporation (FDIC), or,
(3) the Federal Reserve for federally chartered banks.

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NOTE WELL Under the Bank Secrecy Act, banks are required to establish, implement and maintain programs designed to detect and report suspicious activity indicative of money laundering and other financial crimes. “The Bank Secrecy Act was enacted to protect the public from harm by identifying and detecting money laundering from criminal enterprises, terrorism, tax evasion or other unlawful activities,” the special agent in charge for Internal Revenue Service Criminal Investigation, explained.

Shady banking transactions could be prosecuted under the (1) Bank Secrecy ACT, (2) RICO, and, (3) the Hobbs Act (by impairing the state's economic viability).

This is criminal.

I’m hunting...deadpelican.com, forgotston.com, et al. He’s cut so many ribbons on companies he has awarded tax “benefits”...that never show up; Vee Vehicle, Next Vehicle, Eleo Motors, and that is only in my neck of the woods.

Louisiana politicians are much like Chicago. It’s a thugocracy. In LA, the Guv appoints the State Senate President. Jindal appointed former Demoncrat congriscritter, John Alario, to the Senate president position. His wiki page has been wiped, though ther might be some info at thehayride.com.

I’ll keep digging....the media protects Jindal like it protects Obambi.

Wow. I’ve been a fan of what I’ve seen of Jindal. I am genuinely surprised.