A Frightening Week Awaits CPS and All of Chicago – WP Original

  By: Mark Glennon*   There’s no point in sugarcoating this. The financial crisis at the Chicago Public School District may come to a head this week, and the impact will extend beyond the school system. A CPS bond sale is scheduled for Tuesday, which is widely seen by financial markets as a test of whether it has a pulse. Here is a summary of key points from various sources:   • CPS is just about out of cash, and its cash could be entirely wiped out on 48-hour notice, according to the Sun-Times. Specifically, the banks owed on $228

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