Category: Rahm Emanuel

Vote bankruptcy in 2016!

8 February, 2016 (10:00) | Bankruptcy, Chicago, Cities, Homeownership, Housing, Municipal bankruptcy, Politics, Public-employee pensions, Rahm Emanuel, Speculation, US News |

By: David A. Smith   When you don’t pay your electric bill, the company shuts off the power.  When you exhaust your credit card, the company cuts you off.  And when you’re unable to prepay old bond issues, this becomes a problem for you only if you cannot sell new bond issues.  And that is […]

A fool and his bond market are soon parted: Part 2, Or go the way of Detroit

5 December, 2013 (09:00) | Bankruptcy, Bonds, Chicago, Cities, Detroit, Local issues, Municipal finance, Rahm Emanuel, Rating agencies, Real estate taxes, Speculation, US News |

[Continued from yesterday’s Part 1.]   By:David A. Smith So far in this post, using as principal source Investors’ Business Daily (November 13, 2013), we’ve seen that (as I speculated two months ago in In Next up: Chicago), Chicago’s finances are nearly as parlous as Detroit’s were, and that Mayor Rahm Emanuel’s recent efforts – […]

A fool and his bond market are soon parted: Part 1, Call it a cliff, call it a precipice

4 December, 2013 (13:27) | Bankruptcy, Bonds, Chicago, Cities, Detroit, Local issues, Municipal finance, Rahm Emanuel, Rating agencies, Real estate taxes, Speculation, US News |

By:David A. Smith   In Next up: Chicago, I spent three posts (Part 1, Part 2, and Part 3) documenting how the Windy City was following Detroit into certain municipal insolvency, and presented the prevaricating evasions offered by Chicago’s former chief auditor (now under indictment);   Last year, now-retiring City Comptroller Amer Ahmad argued that […]