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СпутникиРНSpaceXРоскосмосNASABorrowing for current and past operating expenses, blanks for use of funds and more make Chicago's bond sale planned for next week smell mighty bad. Mark Glennon's interview is in the first ten minutes starting here.
March 6, 2026
Borrowing for current and past operating expenses, blanks for use of funds and more make Chicago’s bond sale planned for next week smell mighty bad. Glennon’s interview is in the first ten minutes starting here.
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Cass Andra
5 months ago
Bond lawyers and their ilk are parasites who get paid “in front” and have little actual exposure if bonds are not redeemed. They “bribe” municipal officials including city attorneys who do nothing but share in the bond lawyers fees. They wine & dine municipal officials at NYC closings. Those officials are probably protected by “reliance on advice of counsel” and that advice has so many exculpation clauses that there is little chance of personal or law firm liability. Their law firms love them because of their revenue production and they are disproportionately rewarded because of high (but phony) billable hours… Read more »
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marko
4 months ago
Reply to Cass Andra
You are 100% over the target, it’s a big circle jerk and always has been.
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ahimsa42
5 months ago
make no mistake, financial responsibility starts from the top down. how many trillions has trump added to the national debt since being elected? how much will the white house renovations cost and don’t forget the hundreds of millions wasted sending national guard troops to states who had no need of them, and now he starts a war which costs upwards of a billion dollars a day! just think of the good which could have been done with these funds for states like IL in place of the many obscene, unnecessary personal vendettas which somehow take precedent over everything else.
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Author
5 months ago
Reply to ahimsa42
Seriously? Even issues about a Chicago bond offering are answered by “But Trump….”? I fully understand the problems with Trump, but there is more to the world than him.
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ahimsa42
5 months ago
Reply to Mark Glennon
you are missing the point Mark-it’s all the same mindset and that is the problem. for example, how can people on one hand call out chicago and the state of IL about their fiscal irresponsibility while at the same time support trump despite his own far larger, henious fiscal waste? if politics could be described in two words they would be “double standard”-i.e do what i say and not what i do.
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Author
5 months ago
Reply to ahimsa42
That works both ways. How can people hate Trump for doing it but close their eyes about Chicago and IL? For the record, Wirepoints writes little about Trump or other federal matters, but when we have we have been very critical of his and other GOP federal spending.
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ahimsa42
5 months ago
Reply to Mark Glennon
i agree 100%-it goes for both sides and it’s good to know you also call out trump’s wreckless overspending, especially since another major platform he ran on was reducing the deficit and government waste. sadly, the same cannot be said for most of the other commenters here who seem all too willing to give the GOP admin a free pass for anything they do while pilling on Chicago & IL for doing the exact same thing.
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Robert Maitino
5 months ago
This, unfortunately is nothing new. The budget crunch goes to wasteful spending and the pension fiasco. Johnson is responsible for the former, and the latter was a legacy from the previous administrations. He cares so much about the citizens of the city that he is piling more debt. Even welfare recipients pay sales, gasoline, and fees. It hurts them far more than the elites
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Old Spartan
5 months ago
This story is hopelessly too complicated for the average voter. But shame on the media, which should have, and does have, a handful of reporters with financial backgrounds who could cover this intelligently if they wanted to. The politicians get away with this only because the media lets them, and the financial calamity for the state and city gets closer every year.
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Leaving Soon, just not soon enough
5 months ago
Mark is spot on about this bond issue. He should have been much tougher on the City and called it out right robbery of the next generation or even possibly a complete default of debt.
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David F
5 months ago
Chicago needs to seek state permission for bankruptcy to get this over with.
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