Financial Engineering = Cooking the books
It’s the “Chicago Way” of running a government.
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.
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...
Looks like they ran out of others peoples money
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.
Detroit II
Baa Baa…sheep getting sheared by Chicago socialists.
Depending upon who the President is at that time, they'll probably get it - since Congress has abdicated all its authority over budgetary issues.
Enslaving future generations in perpetual debt to pay for our wants today.
I thought Slavery was Evil, unless you are a Muslim.
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.
California’s doing the same thing.
This is criminal.