How are they going to pay back the loan?
first one is free. next one is 5 bucks.
What happens when the next payment is due ?
Interest Rate - Schminterest Rate.....if they have no intention of paying it back.
What a rabbitt hole ! Someone other than them is backing that - no chance anyone lends into that bankruptcy in progress at 6 and change.
Yet the MASSIVE CORRUPTION that has poisoned Chicago for DECADES goes UNnoticed.
Meanwhile, the MSM continues to masturbate at the fiction of Trump “obstructing justice” and “colluding with Russia”
>>CPS officials secured the $275 million on Monday from J.P. Morgan. It’s the final chunk of cash needed to make the $721 million payment for teacher pensions that’s due at the end of the month
>>An additional $112 million that’s needed to fund district operations will be borrowed separately.
Operating costs are $112 million and pensions are $721 million ?!? 6.44 times as much? And they’re borrowing 46.5% of their total expenses each month? Yeah, that’s sustainable financing...
Didn’t the Ill annoyed Supreme tyrants rule the state must pay out the full pensions by law? What a goat cluster copulation of a state.
Recently,a local Boston talk host mentioned that an MBTA employee (the MBTA is Boston's regional transit system) retired with a $97,000/yr pension.
That employee,boys and girls,was a friggin bus driver!
I worked for decades at one of the world's most famous hospitals and I know *heart surgeons* with smaller pensions.But of course *they* never belonged to a "public service" union.
When the bill comes due the politicians have already got their own generous retirement locked in and don't have to clean up the mess they created.
If the muslims and the globalists don't destroy America the public employees unions are waiting in the wings to do the job for them.
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It’s too bad the California Hollowoodies don’t donate all their money to Emanual’s schools instead of buying House seats in Georgia.
The DEMS are banking on the government owned CHICAGO CASINO that’s in the expanded gambling bill in the ILLINOIS GENERAL ASSEMBLY to bail them out.
A community organizer should step up and save Chicago.
J.P. Morgan is imprudent to loan this money, but I’m sure they’re betting on being bailed out when the loan goes south, and it will.
$17.5 million debt service without a single principal payment.
I’m betting the money was delivered cash in a briefcase by a guy named Guido.
Until the loan is paid back, I foresee broken legs, a missing school board member or two, and maybe a horse head in a bed.
The word “vig” comes to mind.
The financial issues of Cook and DePage counties in Illinois will result in that state filing for bankruptcy within 18 months. And that increases the possibility that Illinois could be dissolved as a state and revert to Federal territory status until an all-new, totally reformed government is created.
It's called shaking down gullible citizens... keep voting for democrat fools... ‘cause the rest of us are NOT going to bail your worthless hides on this one. We're gonna watch and laugh.
It's called shaking down gullible citizens... keep voting for democrat fools... ‘cause the rest of us are NOT going to bail out your worthless hides on this one. We're gonna watch and laugh.
