Bankruptcy?

In the face of Chicago being unable to sell bonds to cover debt or operating costs:

• Former Illinois Representative Jeanne Ives said that Chicago is effectively bankrupt and that investors are expressing concern about the city's debt. This statement was made in a social media post on X dated November 25.

  "Few understand what this means - Chicago is bankrupt and the market knows it," said Jeanne M Ives, Former Representative.

  According to the Chicago Tribune editorial board, on November 24, 2025, "bond vigilantes" are opposing Mayor Brandon Johnson's borrowing plans. This follows a recent Sales Tax Securitization Corporation (STSC) deal that saw limited demand and wider spreads. The board indicated that market resistance, including increased underwriter support needed to place bonds, suggests higher costs in the future. They urged the City Council to limit new debt and pay attention to fiscal warnings.

  Bond Buyer reported that Chicago's $454.37 million STSC refunding was priced amid contentious budget discussions with significantly wider spreads compared to a previous sale. Lead underwriter Goldman Sachs reportedly "took down" approximately $75 million in bonds that could not be placed with investors, according to Bloomberg. Such underwriter take-downs and widening spreads suggest that investors are demanding higher yields for holding Chicago's bonds.

There's no help coming from Washington as far as we can tell. And Conehead is determined to drive Chicago to the brink hoping for some sort of bailout from Springfield....which is also broke with something over $100 BILLION of debt.

Good thing the police department is so undermanned - if we have to resort to a life of crime to feed ourselves, we know there won't be any meaningful response from the authorities, and even if there is, the justice system is so broken, we'll get probation a few dozen times.