Rahm Emanuel

Germany Just Blew Up Italy's Bank Bailout Plan

Germany opposes any attempt to shield private bank investors from losses if Italy pushes ahead with plans to recapitalize lenders. Merkel’s government says that European Union rules on handling struggling banks should apply in any rescue effort, including forcing losses on shareholders and some creditors before public money can be injected. The government in Berlin rejects the argument that the U.K. vote to leave the EU constitutes an “exceptional circumstance.”

Chicago Is Pushing For A Massive Bailout Of Its Public School System

Perhaps riding high on the small victory of a slight reprieve in the amount of money the city would have to contribute to fund the liabilities over the next few years, Rahm Emanuel is now quietly asking the city to change investment rules that would allow Chicago to purchase debt from sister agencies such as the Chicago Public School system - said differently, Rahm Emanuel wants to bail out the Chicago Public School system.

Three Days In Chicago: 64 Shot, 3 Dead - Why It Keeps On Happening

“Shooting in Chicago is like a cancer...It’s starting to spread out, and I just figured it was a matter of time.” The logic of one Chicago mother, who watches another mother weep over her dead son in their South Side neighborhood, perfectly sums up what they are living throuigh in Obama's recovery: She is glad her own son is in jail, because the alternative is unbearable... “He was bound to be shot this summer,” she says.

 

Chicago Pension Liabilities Jump 168%, Understated By $11.5 Billion

New accounting rules show Chicago has understated its pension liabilities by $11.5 billion. At the end of 2015 the stated liability was $7.1 billion. Today it’s $18.6 billion. That’s a jump in net liabilities of 168%. Mayor Rahm Emanuel has hopes pinned on union concessions and help from the state legislature. Neither is likely. Let’s stop pretending there is another solution, because there isn’t.

Chicago Disintegrates - Gun Shootings Soar An Unprecedented 89%: "It's The Struggling Economy"

Gun violence in the windy city is on track to post its worst year in the 21st century, the result of an unprecedented surge in gun deaths in the first three months of the year.  By March 31, 141 people had been killed, according to the Chicago Police Department. On Thursday, eight were shot and two of them died in one hour alone, Chicago Police said.The 141 deaths in the first three months of the year mark a 71.9% jump from the same period in 2015, when 82 people were killed. It's the worst start to a year since 1999, when 136 people died in the first three months the year

Countdown To Insolvency Begins For Chicago Pensions As State Supreme Court Rejects Reform Bid

“While their contributions will diminish slightly, the condition of the funds will revert back to something that is totally unsustainable and in danger of being completely insolvent within 10 to 15 years. Hundreds of millions in savings from rationalized pension benefits will be lost that will either have to be made up from reductions in city services, increased taxes or by allowing these funds to further deteriorate."

Inequality In America: The Richest 20 Own More Wealth Than Half The Population

Inequality of wealth is inequality of power. A study just released finds that "America’s 20 wealthiest people — a group that could fit comfortably in one single Gulfstream G650 luxury jet — now own more wealth than the bottom half of the American population combined, a total of 152 million people in 57 million households.” How much political power do the people who would be inside that jet — and their friends — actually have?

Rahm Emanuel Fires Chicago Police Chief

Chicago Mayor Rahm Emanuel announced the resignation of Police Superintendent Garry McCarthy, amid growing furor over the administration’s handling of the shooting death of a black teenager by a white officer last year. “Now is the time for fresh ideas and new leadership” the mayor said.