New Report: Governor Rauner Spends Millions on Bad Bank Deals While Cutting Social Services and College Grants

Governor Rauner Is Skipping Payments for Vital Public Services but Paying Banks $6 Million per Month for Toxic Swaps

Chicago, IL –(ENEWSPF)--January 19, 2016.   Even though the Rauner Administration is skipping payments that the State of Illinois is legally required to make to social service providers under federal law, the state nevertheless pays banks like Bank of America and JPMorgan Chase $6 million per month for interest rate swap deals. That is the conclusion of a new report by the ReFund America Project called Turned Around: How the Swaps that Were Supposed to Save Illinois Millions . . .

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