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“If one is to believe news reports, [the deal] may have saddled Chicago with the most expensive street parking in the country … but that is not enough to state a claim for a violation of the antitrust laws,” the judges wrote.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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No one forced the city to spend all the proceeds upfront.
It was spent on Pensions, luxury homes in Punta Gorda. 80% of all money is spent on Pensions.
Wrong DOUCHE BAG it was spent on the budget to keep Daley from raising property taxes u really r in need of mental health check up ur a SICK INDIVIDUAL
Giving a large sum of cash to liberals is akin to giving a twenty dollar bill to a six year old.
It is stuff like this that guarantees NO BAIL OUT for the Chitty from the Federal Government.
“Might have been foolish, but not illegal.”
Well, that’s a step up for guvmn’t work in Chicago and Illinois.
At least it wasn’t foolish AND illegal….
Was this foolish deal one of the reasons Richie seemingly disappeared off the face of the earth after he left office?
And Mayor Daley 2 made a fortune off of the deal when he was hired by the law firm who handled the deal as a “good will” ambassador for the firrm for lots of salary cash. His chief of staff ended up being the CEO of the parking meter company and numerous friends and relatives benefitted as well. The good ole boys of the Democrat party sticking it to the idiots who vote for them, again.
The taxpayer was put on earth to be screwed.
You’re the money tree and they are going to pluck you over.