# How Chicago plans to pay it's bills



## Smitty901 (Nov 16, 2012)

I do not recommend this system. Seems a plan to get others to pay for it is really what is up. The bond plan will fall flat on it's face.

"Short $28 billion in the pension fund that goes toward the police, firefighters and other municipal employees, Chicago Mayor Rahm Emanuel is weighing a $10 billion taxable bond offering. That bond would then be invested and, ideally, earn returns that surpass the interest the city has to pay on the money."

"The problem? If Chicago's gamble doesn't work out, the Windy City may end up with more debt than it could afford to pay off. Pension obligation bonds contributed to the bankruptcy of other cities, including Detroit, Stockton, California, and San Bernardino, California."

https://www.foxbusiness.com/politics/heres-how-chicago-plans-to-fix-its-28b-pension-deficit


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## The Tourist (Jun 9, 2016)

Same way they always have. Strip the gold jewelry off the dead bangers and fence it through the Mafia.

What? Nobody told you?


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## Prepared One (Nov 5, 2014)

They always estimate the investment earnings way to high and it fails every time. Every damn time. Yet, we keep electing these boneheads, every damn time. We aren't getting smarter and they certainly arn't getting smarter.


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## Camel923 (Aug 13, 2014)

Junk Bonds


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## Notold63 (Sep 18, 2016)

Another plan that politicians from Chicago that are in the State Congress are trying to get passed is to put all property taxes used to fund schools into a central fund so that they can be payed out to schools according to their “needs”. In other words, they can get the property taxes from the rest of the State to help pay for Chicago teachers retirement.


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## Smitty901 (Nov 16, 2012)

Camel923 said:


> Junk Bonds


 yes, I do not understand how anyone could rate Chicago anything else and to sell junk you got to offer some incentives. Only a gambler would buy them.


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## stowlin (Apr 25, 2016)

Well I have a terrific idea for them, since such unsecured bonds would need to have a moderately higher rate they could take the $10 billion and sale a short derivative on them, pull a Detroit / Stockton and go bankrupt to which judges will empower the unions over the bond holders and the short positions will rise. Yes I’m joking. 

Apple has been selling bonds for several years to raise cash just to buy its stock with the cash. Their credit was so good they could get bonds at 1.5 to 1.75% and when they bought the shares they saved over 2% in dividend payments. The bond proceeds are not taxable, and the repayment is an expense also not taxable, and they hit a home run trifecta.


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## Sasquatch (Dec 12, 2014)

This is the equivalent of not having enough money for rent and taking it to Vegas to bet it on red or black at the Roulette table.


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## Smitty901 (Nov 16, 2012)

stowlin said:


> Well I have a terrific idea for them, since such unsecured bonds would need to have a moderately higher rate they could take the $10 billion and sale a short derivative on them, pull a Detroit / Stockton and go bankrupt to which judges will empower the unions over the bond holders and the short positions will rise. Yes I'm joking.
> 
> Apple has been selling bonds for several years to raise cash just to buy its stock with the cash. Their credit was so good they could get bonds at 1.5 to 1.75% and when they bought the shares they saved over 2% in dividend payments. The bond proceeds are not taxable, and the repayment is an expense also not taxable, and they hit a home run trifecta.


 You figured out the plan. But they have to wait for another democrat in the WH.


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## dwight55 (Nov 9, 2012)

Sasquatch said:


> This is the equivalent of not having enough money for rent and taking it to Vegas to bet it on red or black at the Roulette table.


In the case of Chicago, . . . they have bet on blue for so long, . . . they would do it there as well, . . . with the same results they and Detoilet have gotten for the last 50 years.

May God bless,
Dwight


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## The Tourist (Jun 9, 2016)

What about selling historic memorabilia?

There are numerous voting machines at the bottom of Lake Michigan showing more votes went to Nixon than to Kennedy. Museums would give you millions for stuff like that.


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## ekim (Dec 28, 2012)

More taxes on the people that never use it, but pay for all if it, the working people of this country.


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