<><>(1) using long-term financing to cover day-to-day expenses,
<><>(2) using bond proceeds to pay pension obligations, and,
<><> (3) misappropriating returns from the interest rate swap portfolio (a sub rosa ATM for paying the citys day to day expenses).
The stench from Chicago's poplitical sleaze is permeating the putrid city hall air... starting w/ Obama's ex-COS Chi/Mayor Rahm Emanuel. ....and remember, these kingpins of Chicago criminal politics moved into DC with Chicago kingpin Barack Obama.
=================================================
ANALYSIS Bonding is eternal taxation----the insider deals bonding companies made w/ shady pols to get 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
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/city's modus operandi in allocating tax-exempt bond proceeds,
<><> the sub rosa acceptance of bond proceeds.
<><> state/city vendors accepting possible fraudulent bond proceeds.
<><> publicly-funded state/city agencies advocating the uses of fraudulent bond proceeds.
===========================================
The SEC, FBI, banking overight agencies, and the IRS, would be interested in the activities of state/city entities WRT bonding.
EMAIL---FBI TIPS PAGE https://tips.fbi.gov
EMAIL--enforcement@SEC.gov
Contact the IRS Fraud Unit
EMAIL Banking oversight agencies
============================================
Taxpayers should find out which Chicago banks are facilitating this.
<><> Which banks are designated the official repositories of municipal tax dollars.
<><> Which banks are dispensing the ill-gotten proceeds....and to whom.
EVEN IN THE DC SWAMP Valerie Jarrett STILL Received
A $36K Annual Pension For a Part-Time Chicago Transit job
dailycaller.com ^ | 2/17/2016 | Chuck Ross / FR Posted by rktman
Chicago is known for its L-train. But it's the gravy train that White House senior adviser Valerie Jarrett prefers to ride.
In addition to the $173,922 Jarrett earns per annum as President Obama's senior adviser, she is also paid an annual pension of $35,660 for the eight years she served as chairman of the Chicago Transit Authority, according to a Chicago Sun Times investigation.
Jarrett was appointed to chairman of the agency - a part-time position - in 1995 by then-mayor Richard Daley, whose brother, William Daley, served as Obama's chief of staff. Jarrett served as the former mayor's deputy chief of staff and was appointed to numerous other positions during his term. (Excerpt) Read more at dailycaller.com ...
======================================
That one Chicago pension check is what she'll admit to. Wonder how many transportation bonds were issued while Jarrett was at Chicago Transit? Her pension payout would pale against her hidden income from lucrative insider Chicago bond deals.
==================================================
In his final days in office:
<><> Obama appointed Valerie Jarrett and National Security Adviser Susan Rice to the Kennedy Center Board of Trustees
<><> Deputy Ntl Security Adviser Ben Rhodes was appointed to the tax-funded US Holocaust Memorial Council.
=================================================
The Obamaminions can't live by do-goodism alone (smirk). We demand to know how many US govt checks this motley crew of incompetents hangers-on is cashing. (including US govt payroll and pension checks.)
Its an old political trick to pad pensions, and, hand-pick people and put them on govt payrolls long after you think they're gone.
The trio's vouchers for reimbursement would also prove enlightening.
==================================================
Remember, Obama gave his MIL a 200,000 US govt pension for baby-sitting his kids. She must be on several payrolls, too.