Chicago hit with 2 credit downgrades as Johnson secretly floats new borrowing plan – The Last Ward

"The Chicago Tribune editorial board revealed Johnson’s administration has been furtively floating a $500 million bond on which the city would make no payments at all for three years. Not interest-only payments. Literally $0 in payments on the debt. For the remainder of Johnson’s term, and beyond."
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Leaving Soon, just not soon enough
2 months ago

Kicking the can down the road. Stealing from the next generation of poor uneducated immigrants. Got to love this Mayor.

Deb
2 months ago

He could cut spending, cut useless committees that he employs his friends, and stop spending on illegals and criminals.

Fullbladder
2 months ago

I’m starting to think the whole: Public Debt Issuers of cities and municipalities, is a boys…and girls high finance racket…and you ain’t in the club.

Indian Creek Social Club 2026
2 months ago

These bonds are perfect for Chicago Treasurer Melissa Conyears-Ervin. We dont need no stinking Treasuries, we want those sweet Chi-Bonds. Its for the people.

daskoterzar
2 months ago

That’s the ticket Pinhead! Borrow more money by selling bonds…because the City’s credit is so good…Moron. The City wouldn’t pay anything on the bonds till he’s out of office…gosh, that doesn’t sound right or even a good idea for the people of Chicago or Illinois (who will ultimately be required to pay for this stupidity) Nah…Don’t look at cutting costs or implementing the recommendations from the E&Y efficiency report…nope, just get the money and kick the can down the road… With this idea of borrowing $500M, hiding the payment liability in no payments for years and then leaving office…he is… Read more »

Wally
2 months ago

Who’s going to invest in bonds that pay neither debt or principal for three years? Especially with the city’s low credit rating?

The Railroader
2 months ago

Mayor Cliff Notes wants to go further into debt to pay for current expenses.

What could possibly go wrong?

ProzacPlease
2 months ago
Reply to  The Railroader

Nothing, in their minds. They just have to get the money. Nothing more to it.
These are the geniuses who run the schools.
Hey, tell me again about Trumpty. That makes all your ideas sound great.

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