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Experts Sound Alarm: Wall Street Banks Set to Shakedown Illinois for $870 Million Unless Springfield Acts Fast

Mayor Emanuel Paid Out Hundreds of Millions to Wall Street Banks on Swap Deals that Torpedoed Chicago and CPS budgets, Governor Rauner Urged to Not Repeat Mistake with State Swaps

CHICAGO, IL –(ENEWSPF)--June 13, 2016.   On Monday, the Illinois House Revenue and Finance Committee held a second subject matter hearing on interest rate swap deals that have cost the state of Illinois over $684 million thus far. During the hearing experts testified how these deals could trigger further financial crisis for the state if letters of credit are not renewed in November. Without these letters of . . .

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