Crackhouse Owner Speaks

This alderthief has a great idea:

• Ignoring fears that Chicago was “buying high after selling low,” Mayor Brandon Johnson’s most powerful City Council ally on Wednesday forged ahead with his eleventh-hour plan to create a public infrastructure trust to take back the city’s parking meters.

And where would this "public infrastructure trust" get it's funding to buy back the parking meters?

You'll never guess:

• Budget Committee Chair Jason Ervin (28th) formally introduced his long-shot ordinance that would create a nine-member public trust to pool pension and city funds and match the $2.5 billion winning bid submitted by Stonepeak Partners, a New York investment firm, for the city’s parking meters.

Brilliant.

Might we add a suggestion though? If we're going to be taking existing pension funds, it ought to be funded by the best funded first and then working it's way downward through the funding ratios.

First up would be the aldermanic pension funds, which we're certain aren't short a dime.

Second, the teachers pension fund seeing as how they only contribute 2% of their salaries while taxpayers pick up the rest.

Working downward from there, the Fire and Police pensions would be near the bottom of having to contribute to this political boondoggle. 

Oh, and the funding that would be raised (unlikely as it seems) would be applied in reverse, so the worst funded would reap the benefits first since those are the pensions that need saving the most.