Chicago Public Schools seeks $1.55 billion credit line

Reuters ^ | Aug 22, 2016 | Karen Pierog

[poinq]

After what happened with GM bond holders and the Illinois state constitution, any bond holder should know that his place in the repayment line is subject to change. And his repayment is always subservient to the teachers union getting their full pensions. It’s the law in Illinois. No matter what deal they cut. The Union can always override it.

So I am not sure why this is debt is not junk right off the bat.

[gdzla]

Let’see......mmm...........
Hillary campaign short of cash..........check
Chicago schools want mega bucks line of credit.......check
Teachers union makes big donation to clinton campaign..check
Nope don't see nuttin’ wrong here.

[JPG]

--with collateral of... what?

We don't need no stinkin' colla..colly...what is that?

[Chode]

LOL!!! snort... 100%

[Don Corleone]

Think big...go for 2 Billion!

[zzwhale]

chiraq is floater in the bowl......

[Nailbiter]

taxpaying suckers

[upchuck]

Precisely!!

[Chode]

to RATS, other peoples money is always a gift

[ChiMark]

I do know that the powers that be in the CPS want another progressive property tax hike. Status quo, no reforming this albatross.

The people at the top are typically former teachers, principles and political hacks.They do not understand financial management. It’s corrupt business
as usual.

Raising taxes again will do nothing to alleviate the enormous pension debt.
Bruce Rauner R Governor suggested pension overhaul. bankruptcy as possibilities but Rahm said no.