Connect the Dots to Rahm
- Just 12 weeks after Rahm Emanuel won a bruising battle for re-election, the Chicago mayor has unveiled a pension initiative that could be a significant financial boon for his largest campaign contributors. On Wednesday, the mayor proposed shifting city teachers' retirement savings into a state fund that invests heavily in -- and pays big fees to -- financial firms whose executives bankrolled the mayor’s campaign.
At a city hall press conference, Emanuel portrayed the plan as a way to solve Chicago’s educational funding crisis. Emanuel said teachers could agree to either contribute 7 percent of their pay to the existing city pension system or merge the city’s own $11 billion teachers' pension fund -- controlled by the teachers themselves -- with the $45 billion state teachers' fund controlled, by statute, by Gov. Bruce Rauner. Emanuel said the latter proposal would mean that the state funds teacher pensions equitably. As of now, the city of Chicago pays a larger share of its teachers' pensions than other municipalities in Illinois do.
What the mayor did not say is that the initiative could end up shifting billions into a fund whose portfolio is run, in part, by Grosvenor Capital and Madison Dearborn Partners, two firms whose executives have together given over $4 million to the mayor's campaigns and affiliated PACs. That includes over $2.7 million from Grosvenor CEO Michael Sacks and his wife, Cari. Sacks has been called Emanuel’s “fixer” and “go-to guy” he was appointed by Emanuel to serve as vice chairman of World Business Chicago, an economic development group that Emanuel chairs.
Is the Chicago voter so numb to all of the blatant corruption that goes on with their money? Of course, the feds are useless with the current occupant telling the FBI which people to go after and which ones to leave alone.
Labels: corruption
posted by SCC at 12:21 AM
51 Comments:
Is it still legal to tar and feather frauds and cheats in public office?
The sheeple are incapable of paying attention.
The criminals are running the city and looting it with the approval of the voters.
How many in the FOP voted for this crook?
No surprise - more corruption using the taxpayer's (our) money.
Is there any place where this doesn't happen?
If you work for Chicago Public Schools you should have to live in city end of story.
Chuy Garcia is still working on analyzing the problems and getting together people to solve the problems.
Tell me again why we must do Ethics training?
I don't think the average Chicagoan can understand this story. That's the problem.
why the heck is the state picking up so much as a penny of local government employee pension costs?
this is one of the problems that got the state in the mess it is in. two many goodies bankrolled by the taxpayers.
The Chicago voter is not numb. The Chicago voter is dumb.
Now, kees me you fool!!!!
OT --
Local news radio reporting now that all seven of Barbara Byrd-Bennett's "top hires" were the "first to go" in 1400 layoffs. Dragged a whole entourage in with her. "All of them had worked with her in Detroit, Cleveland" and other "Cities In A Garden" that she did so much to transform...
>pfft<
Wasn't is SCC that referred to Chuey as a Communist Libtard, or something like that?
More Democratic thievery!
Yet, these crooks get voted in all the time!
Obviously, there are problem spots throughout the city. There should be an additional vri north. Place units at: Wilson and broadway ( Box A) Lawrence and kedzie (Box B) Jonquil and Ashland (Box C) 1365 hudson - 1450 Sedwick (Box D) Addison and Cicero (Box E) Argyle and Sheridan (Box F) Central Park and North Ave (Box G). Thats only 14 officers! VRI north will becime appealing and you will need 22 years to get it. Add answering jobs and it will go to 11 years. Only 14 officers so make it 2 shifts. Are you listening pencil pushers? Your homicides just went down 5%.
The Northside Pro
One has to realize that these chosen few with all their ill gotten gains are so far removed from the day to day realities we the majority have to endure. Money is simply a term they use in polite conversation.
Change them every election, every other if they are decent. The term 'career politician' is, and should be, akin to calling someone a thief and a lay about.
When was the last time you were excited about voting for someone?
Rahm is Wizzo the Wizard when it comes to teachers' pensions! http://windycityteachers.blogspot.com/2015/07/rahms-pension-wizardry.html
The CPD is in the same boat. I may not have a pension at all when I retire. I wish we could all take a lump sum pay out and invest on our own. I would rather take the money they are removing from my bi-weekly check and grow my own wealth. I would not put it past Ramn and his buddies down state to offer us all a severance package and lumpsum payout, just so the city can replace us with part time private state certified security officers making minimum wage. If you think it could not happen -- think again. If this offer is ever on the table I will gladly take my severance package and payout and leave. Screw this city and department.
It may be the Chicago Way, but it might be better than Vanecko and Daley Investments.
Mayor 1% and his hired gun counsel are ready to get their heads handed to them at the upcoming hearing on the City pension theft statute, arguments in lawsuit are set for July 9 at Daley Center. Retirees should pack the house inside Judge Rita Novak's courtroom and show support for the anti-theft provision contained in the Illinois Constitution which I do believe Mayor 1% has sworn to uphold (or at least he is obligated to uphold).
Those fees for portfolios in the billions of dollars are indeed immense.
I am no expert on pensions. Does the merger solve the problem? Kick the can? Make it the state's problem?
Are we getting the worst of both worlds (cronies get paid but problem not solved?
hey ssc it reminds of a scene in the godfather part II when Michael tells fredo "the 2 mil his contribution to the leader of cuba , the Corleone family is making a move into cuba" same script just differnrt actors
Anonymous said...
The CPD is in the same boat. I may not have a pension at all when I retire. I wish we could all take a lump sum pay out and invest on our own. I would rather take the money they are removing from my bi-weekly check and grow my own wealth. I would not put it past Ramn and his buddies down state to offer us all a severance package and lumpsum payout, just so the city can replace us with part time private state certified security officers making minimum wage. If you think it could not happen -- think again. If this offer is ever on the table I will gladly take my severance package and payout and leave. Screw this city and department.
7/03/2015 10:22:00 AM
The above poster must REALLY be connected. The only one on the departments that that gets paid every two weeks rather than twice a month. BOOYAH!!!
The media had Rahm's back, had people afraid of any other candidate that would run against him. The money he raised was like crack and crushed anyone else running. We will never know what Garcia would have done differently but there were several other people that had different ideas. You throw in the hundreds of thousands who did not vote and Rahm wins easily. Now comes the pain. The alderfools do not give a shit and Lisa Madigan has her own crumbs to pass out as well.
http://www.forbes.com/sites/adamandrzejewski/2015/01/30/il-attorney-general-lisa-madigans-friends-and-family-1-million-patronage-pay-problems/
Anonymous Anonymous said...
Change them every election, every other if they are decent. The term 'career politician' is, and should be, akin to calling someone a thief and a lay about.
When was the last time you were excited about voting for someone?
7/03/2015 10:06:00 AM
2007, a friend of mine was running for alderman. I figured there wasn't a chance in hell he would get elected. Turns out he won by 100 votes and is in there still. He was one of the 5 to vote against the parking meter deal. It is like that, he votes his conscience and thus usually on the losing side.
Anonymous said...
The CPD is in the same boat. I may not have a pension at all when I retire. I wish we could all take a lump sum pay out and invest on our own. I would rather take the money they are removing from my bi-weekly check and grow my own wealth. I would not put it past Ramn and his buddies down state to offer us all a severance package and lumpsum payout, just so the city can replace us with part time private state certified security officers making minimum wage. If you think it could not happen -- think again. If this offer is ever on the table I will gladly take my severance package and payout and leave. Screw this city and department.
7/03/2015 10:22:00 AM
How are you going to take your 9% of income and turn it into an annual payment of at least $60,000? Plus 3% COLA if you qualify and health insurance? You won't be getting your pension contributions back so don't say it so loudly. The City might gladly give all members their contributions back to get out of the pension business. In 4 years of retirement I have already made back all my contributions. Next year I will be into their money. You think you can do better? Next year my pension will be $66,000 and keep going up by 3% simple interest each year? If I live 20 years, well, I doubt many investors can beat those returns unless they go to the boats and put it all on red.
This country as you know it is changing rather fast. Greece here we come..
I didn't vote for the cocksucker, and I hate everyone that did. You can not say we were not forewarned, the low informatiuon voters put the jagoff over the top. Fuck the liberal democrat machine.
OT: am i the only person still pissed Garrido lost?
The sheeple are incapable of paying attention.
7/03/2015 03:23:00 AM
No, we're plenty capable of paying attention and that's why we're leaving. It's part of the reason illinois has a net population loss.
The International Monetary Fund will be publishing a economic report on October 20,2015 that will recommend an alternative currency to the US Dollar...Plan accordingly.."The Fundamental Transformation of America..How's that for hope and change? You voted for it,enjoy it...
Anonymous said...
The CPD is in the same boat. I may not have a pension at all when I retire. I wish we could all take a lump sum pay out and invest on our own. I would rather take the money they are removing from my bi-weekly check and grow my own wealth. I would not put it past Ramn and his buddies down state to offer us all a severance package and lumpsum payout, just so the city can replace us with part time private state certified security officers making minimum wage. If you think it could not happen -- think again. If this offer is ever on the table I will gladly take my severance package and payout and leave. Screw this city and department.
7/03/2015 10:22:00 AM
-------------------------------------------------
hey Ricky Recruit... you 50 cents on the dollar is going to buy Obama phones and Link card for shit head in on 65th and King. you will get a shit box in an alley when next to your wheel chair in 28 and a day
Hey Feds grow a pair he won't be around much longer stand up to that jerk!
Told Ya!
Rahm Emanuel:
The ruff & tuff, take no guff political ass-kicker "from Chicago."
Consumate corporate-sponsored government fixer & problem
solver.
Mover, shaker, unhinged chair humper and financial
uber mittel-mensch who had a knack for riding warm
air currents around other people's pension money not
unlike some nasty little carrion bird.
Absolutely nauseating how the ignorant majority ordained
him "Financial Guru" for being the sole possessor of the
municipal books and thusly "having a plan" by virtue of
incumbency.
...That other fella was straight up baying at the moon for his
talk of letting outside muni finance geeks have a go at the books
to see how badly they've been cooked.
And a LOT of big money players contributed a lot of money
and political capital because THEIR NAMES would have been
dredged up from the Daley Inc./Rahm & Co. financial muck.
Too big to fail cuz too many important asses are trying to
stay out of jail.
Rahm is the "cleaner" to make sure none of the key names
in the Rolodex of Eeeeevil are inconvenienced by piddly
little things like R.I.C.O.
"Is that the towel boy at the club house?"
Rahm is here to change laws to facilitate the forcible divesture, consolidation,
bend-over/bust-out and bundle muni employee pension monies for easy
theft by the people who poured money into his re-election campaign.
Of course you know that Rahm is going to hit his lick and get dirty
renumeration from his fellow 1%-ers for busting out a bunch of Cops,
Firemen, Teachers etc.,
Which was why the narrative of "Greedy Cops retiring at 50 with $100K pensions"
was so important to sell to the public. Separate us from public good will and the
theivery will be easy to accomplish without much public outrage since everybody
will by then, be pissed off at The Police for many reasons.
"Fuck you Cops. We had our pensions stolen so you and your
families should just eat the big greasy shit and DIE JUST LIKE
WE HAD TO! You guys aren't special and we're sick of reading
about how dangerous you think your jobs are and how you guys
are all pissed because you can't run around wild and crazy like
It's 1960 all over again."
...Or something like that.
Happy 4th
and stay safe in spite of.
Guys like Sacks were kinda pissed at Rahm that he lacked the finesse to avoid a run-off. That Chewy episode cost the Billionaire Class at least $30 mil. to get Emanuel over the top in April.
They're pissed and they want their money back, plus.
This is just a down payment.
3:36PM...
Probably.
10:22AM...
You're a putz. Probably a typical copper who watched Jim Cramer on TV a couple times and now thinks he's Bernie Madoff.
Grow up.
OT: am i the only person still pissed Garrido lost?
Yes John, you are.
One way or the other the pensions will get raided with the proceeds going to the parasitic elites and their campaign contributors,( AKA as corporate eexcs and politicians.)
No-one wants to talk about those political welfare dead beats that are not contributing to society. Face it. It's the non-working lazy shareholders playing the stock market that are more valued and rewarded then the people actually making something so why get a job! You're a sucker working.
All that pension money, IRA money, Social Security money, IRA money that is tax free or tax referred? Whelp, just look at Greece. When bankruptcy is declared they are even taking the money from private bank account to bail the system out and keep the power in their hands
Naw man, there's trillions of dollars in those retirement plans and it's just too much money to resist. They must plan on ways to get their hands on that money while selling it as moral, just and legal. Too much money. Just sitting there and they are drooling over it.
What you need to understand is that the money for fees goes straight into the pocket of a connected person. No product or service benefits any one else. Nothing is to be shown for it. This is how Emanuel, Rauner, Mitt Romney made their fortunes. No product, no one benefits but them. They will say they were "consultants" , bull shit.
P.O.s pay 9% into their pensions. Teachers pay 2% into THEIR pensions with 7% paid in by the Board of Education (taxpayer money).
How come this is first coming to light? Where are the great reporters like J. Kas and those investigative T.V. Reporters? Better Gov. Association? Andy???
"Fuck you Cops. We had our pensions stolen so you and your
families should just eat the big greasy shit and DIE JUST LIKE
WE HAD TO! You guys aren't special and we're sick of reading
about how dangerous you think your jobs are and how you guys
are all pissed because you can't run around wild and crazy like
It's 1960 all over again."
---------------------------------------------
In the 1960s society expected stupid shit from Cops because society knew its expectations from working a dangerous job... Today society does not expected stupid ass Cop to show his ass, because hey, they are ready to give you 6 months of unemployment. I got almost 6 years on the job, I know where to when and where to stop, and it is a chase bank twice a months. It is just a job, I was taught by a copper who came on in the early 90s when cops started to get noose tightened. learn from example, not by trial
"What you need to understand is that the money for fees goes straight into the pocket of a connected person. No product or service benefits any one else. Nothing is to be shown for it. This is how Emanuel, Rauner, Mitt Romney made their fortunes. No product, no one benefits but them. They will say they were "consultants" , bull shit."
7/04/2015 10:46:00 AM
Immortal Dilbert cartoon shows the boss man saying, "If we manage efficiently enough, we can show a profit without having any product at all."
The whole country runs on this principle today. All talk.
Like "managed care." It's like 99 out of 100 people employed are not doctors or nurses, but office drones. Endless hundreds of billions go into the top of the funnel, and you are standing there with your hands cupped at the little end, hoping that a couple of aspirin tablets or something will fall out for you.
You used to see tired people in dirty overalls carrying a battered lunchbox home. Today it's nasty people in new cars talking into smartphones.
Took a commuter train to downtown twenty years ago -- there was not ONE SINGLE PERSON on that train who worked with their hands. All women in "business" attire except for big puffy basketball sneakers, sipping plasticated wine and tapping at laptops, and self-important men taking loudly into those damned phones like it was the end of the world.
In a way, it is.
Ah, well, anyone who remembers the old ways will be gone soon enough. No care for you after age 60, says Ezekiel Emanuel. You have "had a full life," like the old horse who used to pull the junk wagon, and you are headed for the rendering plant.
We have whole shiny office buildings full of our own "domestic terrorists." They just use keyboards instead of AK-47s. As someone said of ISIS burning schools and libraries and smashing ancient relics, "they destroy the past in order to control the future."
"Too much money. Just sitting there and they are drooling over it."
7/04/2015 09:53:00 AM
What I don't get is the "Communists" who live off the remaining "working class" by endlessly suing the city...huh?
*
"Are we getting the worst of both worlds (cronies get paid but problem not solved?"
7/03/2015 11:09:00 AM
I am afraid that you've put your finger right on it.
Remember -- "It doesn't matter whether it's going up or down as long as it's going." They live on the nickels that fall out of people's pockets in the chaos they cause -- like those who stay carefully at the edges of a bar fight, hoping to pick up a loose wallet or slip a nice leather jacket off a stool and walk away unnoticed in the uproar.
Hiya, Rahm. Hey Bruce! What it is?
*
"Mover, shaker, unhinged chair humper and financial
uber mittel-mensch who had a knack for riding warm
air currents around other people's pension money not
unlike some nasty little carrion bird."
7/04/2015 04:13:00 AM
Beautiful image!
Yes, you can see them circling up there, more and more of them, as your water runs low...
>closeup of canteen being upended and shaken, only trickle of sand comes out<
More like "vulture with a six-foot wingspan." Specialized sort of animal. They have those ugly bald heads and bare necks so they can more easily wiggle their beaks up your behind to pull your guts out.
Well, it's...hiya, Rahm!
No soul. Public comparisons to ugly, mite-ridden scavenger birds just make them "No comment," shove the cameras aside, and walk even faster to the limo, on their way to steal more -- with a police escort, yet, already.
"It's A Wonderful Life." Just you wait until you can only get $66.00 out of an ATM...
Opaa!
>up bouzouki music<
"Riding the warm air currents around other people's pension money..."
>gaha<
Love ya, BCP. Wish we could get together for some Steel Reserve, some gin 'n juice, and walk backwards yelling and shooting Roman candles at each other in the middle of Western Ave. with all the overcivilized drivers nosediving to avoid us like we were worth any more than an empty red hots bag blowin across the street...
Everyone else does it...
Have a wonderful 4th, guy.
Anonymous said...
"It's A Wonderful Life." Just you wait until you can only get $66.00 out of
an ATM..."
Opaa!
>up bouzouki music<
7/04/2015 07:29:00 PM
Waiting for the Greeks to make like the WW2 partisans
and start hunting and hanging the m/fers trying to monetize
their misery.
As for the other stuff?
We'll pass on the Steel Reserve/gin-juice
but a nice Tripel (a jaunt to Belgium is on the list)
is the perfect summer pairing with good company.
>Nod of Appreciation<
Not a lot of us left.
Watch ya self out here.
@
7/04/2015 07:40:00 PM
Direct your attention to YouTube video of one ignorant
asshole "doin' da Dougie" (some ghetto mating dance or sump'n)
BACKWARDS across a busy street.
Regular decent people minding their business suddenly forced to
catapult themselves into a near head-stand by some Greater Urban
Shit-Bird sticking his clownish ass in/out of a lane of vehicular traffic.
>Dare y'all bitches to hit me!<
Suddenly?
A brightly painted ice cream truck appears.
"BEEEEEEEEEEP!"
>WHUMP!<
Camera Operatuh say:
"Dayum!"
Watching this video is revelatory in how Karma
can rouse herself and sink those broken mirror glass-like
teeth in a most deserving ass so quickly.
7/04/2015 07:40:00 PM
"Direct your attention to YouTube video of one ignorant
asshole "doin' da Dougie" (some ghetto mating dance or sump'n)
BACKWARDS across a busy street."
No one who hasn't seen it themselves believes me about this backwards s__t. Backwards and DIAGONALLY across 4-lane divided arterial street, wearing price-tags-still-on FUBU, laughing and taking s__t and txtn and stripping out a big bag of McD's at the same time; napkins, ketchup, anything unwanted flying all over as...
"Regular decent people minding their business suddenly forced to catapult themselves into a near head-stand by some Greater Urban Shit-Bird..."
Either that, or on a quieter side street, people trying to sleep and the Head Foo walking -- again -- backwards up the middle of the street, shouting "LuRON! LuRON!" or something at the darkened third-floor windows...
Used to see groups sit down -- just sit down -- in the middle of Ridge Blvd. up in Evanston. When they weren't scooping up and hurling available mud all over. Or entering St. Francis Hospital to steal from patients. Like 20 or more years ago. Some great gang funerals up there, peeps arriving 50 strong in each chartered bus and EPD all bashful about breaking out their M16s.
We've progressed since then.
Put up that youtube link; I'd love to see a Backwards get kerwhomped by a good solid truck, for once. As much fun as the guy who went swimming in the bayou (for about 13 seconds) after yelling "F__k the alligators!"
www.cnn.com/2015/07/04/us/texas-alligator-attack/index.html
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