We The People

We The People

Sunday, May 21, 2017

Blog: Rahm's latest plan to stave off Chicago financial collapse under fire – from Dems

Blog: Rahm's latest plan to stave off Chicago financial collapse under fire – from Dems:

Image result for flickr commons images Rham Emmanual
"Illinois is as broke as Chicago.  If this were a business, Rahm would be borrowing against his "accounts receivable" – also known as "factoring."  That is a common practice among financially troubled businesses to keep the doors open.  Rahm is trying to find a factor that will lend almost $400 mil against the promise of a broke state to come up with the cash."