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Rick
6 months ago

So basically investors get to meet with lightfoot in person on how best to screw over the taxpayers. What an opportunity! Horse trading where the taxpayers are the horses? What other thing of value can she offer other than the fruits of taxpayer labor and property?

Mike Williams
6 months ago

If all future revenue streams are bought up and owned by bond holders, and thus protected from bankruptcy, that should make things rather simple. Chicago owns nothing. It shouldn’t be difficult for a court to decide how to divide that up.

Illinois Entrepreneur
6 months ago

It sounds to me like this “innovation” in financing will now become a permanent fixture, separating assets from the municipality in exchange for hard liens and lower interest rates.

The thirst for more money and budget flexibility in the short-term will have some very adverse consequences for long-run financing, once the ratios get too risky for this instrument, too.

Why do we continue to do this to our children?