Friday, January 08, 2016

Chicago Junk City: Rahm wants to borrow $3 billion

I heard on the radio just now that Chicago Mayor Rahm Emanuel want to borrow $3 billion. That will be very expensive--because the city's credit rating is so low that it's bond are rated as junk.

Loans are supposed to be paid back, by the way. Preferably not with other loans.

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