Chicago Treasurer Melissa Conyears-Ervin vows boycott of U.S. Treasury bonds in protest of President Trump – CBS/MSN

"We will invest in the value of the residents of Chicago, and Chicagoans do not want us to bankroll the regime, the authoritarian regime of Donald Trump, where he has waged a war on our city."
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daskoterzar
6 months ago

Her political views and vanity should have nothing to do with her job. When she said this to the press, Pinhead should have fired her.

ron
6 months ago

Go real retro and buy gold instead of bonds

Joey Zamboni
6 months ago

Ironically she has no problem accepting the Trump administrations millions of dollars she wants to re-invest…

Ataraxis
6 months ago

Fantastic! I think that this genius should buy bonds from Mexico or Zimbabwe.
If you’re gonna be a Third World city, you should invest in the Third World!
Chicago comedians who are not doing routines about Chicago and Illinois politicians are really missing out.

Martin Eden
6 months ago

MG, please research the rates of return on the portfolios for the various municipalities (pension, etc.). IIRC many of them have unreasonable expected rates of return so that they don’t need to contribute from operating funds… Who audits all of the investment funds for the city and related bodies?

Last edited 6 months ago by Martin Eden
Martin Eden
6 months ago

Never go FULL R… How do these people get elected? Please, let me know what sovereign debt is safer? You are derelict in your duties, your fiduciary duties, and worse, you seem to be an unintelligent person.

Exactly what we deserve here in Chicago…

The Craw
6 months ago

This link will take you to the City Treasurer’s OFFICIAL GOVERNMENT website.
Scroll down and count the number of times the name “Melissa Conyears-Ervin” or her picture appears on the landing page.
My initial reaction was that I had inadvertently stumbled upon her CAMPAIGN website.
The amount of self promotion on a taxpayer funded website is staggering.
Yikes!
https://chicagocitytreasurer.com/meet-treasurer-conyears-ervin/

Locke
6 months ago

The city should go all in on 0DTE.
Show us plebs those made public sector trading skills.

Tommy Paine
6 months ago
Reply to  Locke

They can call Hillary and learn how to trade cattle futures.

Hello, Indiana!
6 months ago

I seem to remember some sort of financial shenanigans involving Ms. Ervin. That’s what happens when you hire the wife of a convicted felon that later became a politician in IL.

Fed up neighbor
6 months ago
Reply to  Mark Glennon

Melissa Conyears-Ervin, the Chicago City Treasurer, has faced multiple allegations of ethics violations, including misusing city resources for personal projects and improperly firing whistleblowers. She was fined $60,000 for these violations and has been under investigation by the Chicago Inspector General. I believe this is what Hello Indiana might be talking about

taxpayer
6 months ago

Chicago Tribune report with too many issues for me to summarize here.

Fed up neighbor
6 months ago
Reply to  Mark Glennon

I never said she was a convicted felon in any way shape or form, just found the article in regard to Hello Indiana’s statement.

Lurker
6 months ago
Reply to  Mark Glennon

Jason Irvin was the subject of a federal probe in 2016 into how he ended up with a check for nearly $5,000, from a woman accused of improperly spending a state grant.

https://www.cbsnews.com/chicago/news/alderman-acknowledges-federal-probe-claims-he-is-cooperating/

Hello, Indiana!
6 months ago
Reply to  Mark Glennon

So not convicted, just a lucky criminal. My apologies. That makes a big difference regarding his character.

Hello, Indiana!
6 months ago
Reply to  Mark Glennon

I was referencing a post from SCC in which they stated Ervin was accused and convicted for assault after ambushing a newly installed police commander. It seems Ervin waited outside in his car for said person to leave the police station, and confronted him with much fist pumping, chest bumping and language that I wouldn’t use around females. This account, sans the convicted aspect , was reported by other outlets. I think if Joe Average did this we would be wearing the bracelets behind bars before we could say Jack Robinson. I’ll take SCC with a large grain of salt… Read more »

Giles Caver
6 months ago

Last week, S&P Global Ratings revised its outlook on its BBB rating of Chicago’s general obligation debt from stable to negative. The next step is BB or Non-Investment Grade — junk. This, not U.S. Treasuries, should be Ms. Conyears-Ervin’s focus.

Isn’t Illinois Fun?
6 months ago

Is there a single rational and competent person in the Johnson administration?

Sanity please
6 months ago

No

Free at Last
6 months ago

Great idea. Chicago has no need of security or the full faith and credit of the USA. It’s a socialist utopia. Junk bonds would be more appropriate. Maybe Illinois, Chicago, CPS or RTA bonds. All great return rates.

Morefandave
6 months ago

Hey, Melissa. doesn’t your fiduciary duty to the Chicago taxpayers kick in here somewhere? Chicago is circling the drain financially, and you think your primary duty is to “punish” Trump?

Tommy Paine
6 months ago

She is outright lying or is incompetent and unqualified. Honestly, it is probably both. “and said the city has other comparable options that could bring a similar rate of return, including corporate bonds and money market accounts.” There is so much that is wrong with that statement. First of all money market rates are about 65 basis points below 30 year Tbonds. Second of all, yes you could get better yield from corporates but they have default risk that the T bonds don’t have. The whole portfolio should be analyzed because, based on her previous scandals, I am sure there… Read more »

Last edited 6 months ago by Tommy Paine
daskoterzar
6 months ago

Good God. Just when you thought the City of Chicago couldn’t get any dumber…What a moron.

David F
6 months ago

I guess there’s no fiduciary responsibility for the Chicago Treasurer or she would IMMEDIATELY loose her job.

JackBolly
6 months ago

Chicago seems to be a bottomless pit of crackpot marxists. No wonder the typical resident is so dumb except when it comes to gaming the system for taxpayer handouts.

Old Spartan
6 months ago

What a buffoon. Is this DEI on steroids or what? “Invest in the value of Chicago residents”? What the heck does that mean? This dope has never heard of an ROI or a fiduciary obligation or common sense investment strategy. Lord help us if this is the kind of financial strategy Chicago now pursues.

Lurker
6 months ago
Reply to  Mark Glennon

This is what happens when you put financially illiterate, DEI-hire activists in charge of taxpayer money.

Sanity please
6 months ago
Reply to  Lurker

It’s time Uncle Sam brings the big hammer down on incompetence like this.
Get rid of idiots like this.

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