Chicago Set to Borrow $283.3M to Resolve Police Misconduct Lawsuits – WTTW (Chicago)

Several members of the City Council said they were shocked by the amount of money Johnson’s administration is proposing to borrow to resolve lawsuits alleging police misconduct. “It’s additional money going just to debt service, that’s not going to paying down the pension debt, that’s not going to affordable housing or public safety initiatives, mental health initiatives,” Ald. Matt Martin said. “That is not the sort of investment that I think Chicagoans want to see.”
8 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
Leaving Soon, just not soon enough
6 months ago

All money goes into the general revenue fund, regards of what departments name is put on it. It is called the debt and credit system of accounting.

Chercher
6 months ago

“Alleging police misconduct” is not proving misconduct. When the city offers to pay millions without proof it will only encourage everyone to allege something.

Call my shrink
6 months ago

Im sorry but it seems to me we are paying way to much. Is this Pinheads idea of reparations

Hello, Indiana!
6 months ago

Get wise “ shocked “ CC members. It’s all part of the Marxist school teacher’s plan to rubber stamp massive payouts for dubious claims, bankrupting the city and denigrating the CPD in the process. Killing two birds with one stone as the old adage goes.

Fullbladder
6 months ago

Who in the #{!! is loaning all this money to the city?

PPF
6 months ago
Reply to  Fullbladder

High yield muni funds (Nuveen), institutional investors (hedge funds, insurance companies, tax exempt portfolio managers), and retail investors that chase a higher yield. Anyone who believes the extra yield is worth the risk. As long as those institutions and people continue to believe the extra yield is worth it, it will continue for quite some time.

Call my shrink
6 months ago
Reply to  PPF

The town of Sicily.

David F
6 months ago
Reply to  Fullbladder

It’s going to have to move overseas, I doubt US lenders will do this anymore.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE