No federal funds to bail them out. Let the state, city and public sector workers eat the loss. Their irresponsible circus, their monkeys.
No federal funds to bail them out. Let the state, city and public sector workers eat the loss.
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Fine and dandy. However a few major banks have been involved in the Ponzi scheme, they kept loaning money to the city to roll over the previous unpaid debt, each new loan had higher interest rates.
Not saying it will happen, but a few banks may have to eat huge losses. The poor people of Chicago were the equivalent of our Federal Reserve…now they have been bleed dry through taxation.
One wonders how much longer our “ lender of last resort” Federal Reserve can keep printing up and loaning out money to keep the US government afloat…..the answer? It can’t….tic, Toc, tic, Toc.