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*** UPDATED x2 - Emanuel responds - Governor says claim “ridiculous” *** “He did it on purpose”

Posted in:

* I’ve been wondering aloud lately whether the governor has been deliberately attempting to sabotage CPS bond sales since last April. Greg Hinz follows up

Though no one will speak for the record, insiders are charging that Rauner, who wants to bust the CTU by forcing it into bankruptcy, is trying to block the system’s ability to borrow that $875 million.

The specific charge is that last month, when Claypool was in New York trying to schlep the bonds, Rauner knew it and intentionally scheduled a press conference to announce revived legislation to allow the state to take over CPS and force it into bankruptcy.

“Rauner knew,” says one source who won’t be named. “He did it on purpose.”

Sources close to the governor shrugged off such charges, one saying that Rauner is willing to give CPS a little help if only Emanuel will “give a little help” to Rauner in his campaign to weaken the power of CPS and other public-sector unions.

But there is a bit of a pattern of Rauner, a conservative Republican, opening his mouth in a high-profile way at very inopportune times for CPS and its proposed bond issue.

Rich Miller of Capitol Fax reported on a pair of Rauner statements, one stemming back to April. Then yesterday, after it became clear CPS would try to go to market today, Rauner told reporters that he’s begun considering who to send in to run CPS, even though it’s doubtful he has the legal authority to do that.

Rauner is not backing down. Says a source close to him, “City Hall is spinning out of control. . . .(Investors) see a CPS balance sheet that is fundamentally broken and a financial plan that is a fairy tale. Chicago is crumbling before our eyes.”

Right. “Crumbling before our eyes.” You might say that game is on, too.

He’s actually done this three times, first in April, then last week and again yesterday.

*** UPDATE 1 *** Gov. Rauner just called the allegation that he’s attempting to sabotage CPS bond sales “ridiculous.”

…Adding… He also said that “Bondholders will make their own decisions. I don’t care about them one way or another.”

*** UPDATE 2 *** Greg Hinz has the 5th Floor’s react

Responding to the governor’s remarks, Emanuel spokeswoman Kelley Quinn shot back: “So much for the governor’s pledge to change his tone in an effort to actually get something accomplished. That lasted almost a week. While it seems he would rather continue pointing fingers and hurling insults, the rest of us will continue working on solutions to the range of challenges facing our city and our state.”

posted by Rich Miller
Wednesday, Feb 3, 16 @ 10:34 am

Comments

  1. This is not shocking. Our governor is trying to thwart an attempt to help Chicago Public Schools. Rather than helping, he is hurting kids.

    Comment by 360 Degree TurnAround Wednesday, Feb 3, 16 @ 10:39 am

  2. He’s a winner and all is fair and so on and so on.

    It’s discouraging to live in a state where the Governor’s constantly bad mouths State government, State employees, local governments and others. And then he says, “I love this state.” Bull.

    Comment by Sir Reel Wednesday, Feb 3, 16 @ 10:42 am

  3. So far, nothing, pertaining to the financial health of Illinois, or other governmental bodies a governor can influence through word or action, indicates Governor Rauner wants, or wants to promote stability.

    Rauner has proven in words and actions, in the prism above, that he is still in the “Shake up” aspects of what - Wordslinger - described as the “Shake up, Shake out, Shake down” plan to destroy what Rauner wants destroyed.

    It’s purposeful. Rauner’s words aren’t accidental, and if things collapse, Rauner hopes to cash in on the collapse, not prevent the collapse from happening at all

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 10:42 am

  4. Rauner plays for keeps. He’s a ruthless vulture capitalist. That’s how he made his fortune. To think this isn’t as deliberate as is the starving of all the human service providers and universities requires child-like naivety.

    Purest expression of ends-justify-the-means as you are likely to see in politics. Hope it gives mainstream voters some pause about who they elected and in Nov. the lawmakers standing with him.

    Comment by Moe Berg Wednesday, Feb 3, 16 @ 10:42 am

  5. All of the Illinois doomsayers are guilty of this. - Rauner’s just got the biggest microphone and the smallest conscience.

    Comment by Century Club Wednesday, Feb 3, 16 @ 10:43 am

  6. OK, I know we can’t recall the governor. And there do not appear to be three House Repubs that will break ranks and form a coalition with the HDems to create a veto-proof coalition to get budget legislation passed into law.

    So, as citizens, what is our recourse? Serious question. Because the whole “wait until the next election” isn’t an option. The state will be a shell of itself by then. So what is our recourse?

    Comment by Fusion Wednesday, Feb 3, 16 @ 10:44 am

  7. ===Because the whole “wait until the next election” isn’t an option.===

    You live in a representative democracy. Get used to it.

    Comment by Rich Miller Wednesday, Feb 3, 16 @ 10:47 am

  8. It’s a fun game to play with a couple hundred million in your pocket and no personal reliance on government services.

    Not as fun for the rest of us.

    Comment by LizPhairTax Wednesday, Feb 3, 16 @ 10:48 am

  9. I actually meant to post my 10:44 comment in the other thread on RACES in Urbana. But the question is the same. We can’t continue like this.

    Comment by Fusion Wednesday, Feb 3, 16 @ 10:49 am

  10. Narcissism and nihilism are a dangerous combination.

    This why we can’t have nice things.

    Comment by 47th Ward Wednesday, Feb 3, 16 @ 10:49 am

  11. Deliberate destruction. Collateral damage of an political agenda that can’t pass.
    How do others leaders negotiate with a Governor whose plan is to force failure, not encourage success? This is indefensible.

    Comment by out of touch Wednesday, Feb 3, 16 @ 10:50 am

  12. Rauner is Nero and Illinois is Rome

    Comment by hum Wednesday, Feb 3, 16 @ 10:51 am

  13. Claypool was trying to “schlep” the bonds?
    Oy.
    “Schlep” is Yiddish for haul, carry, drag, etc.
    Maybe he should try selling them instead.

    Comment by Tiny Dancer(formerly Sue the other one) Wednesday, Feb 3, 16 @ 10:52 am

  14. Rauner is the most financially sophisticated person to ever hold the gov’s chair in Illinois and is 100% aware of what he is doing. It’s outrageous!

    If Rauner were CEO of a large conglomerate and he was badmouthing one of his divisions in advance of that division going to the bond market, he would be sued for breaching his fiduciary duty to his shareholders. By engaging in this deliberate behavior, he is costing his shareholders (the taxpayers) more money.

    Comment by Chicago Cynic Wednesday, Feb 3, 16 @ 10:52 am

  15. - Fusion -

    Elections have consequences.

    March will be the first test, and Rauner will probably “win” the day with Dunkin, “maybe” take out McCann, maybe…

    Rauner is the odds on favorite to have a “nice” March Primary, and drain Democratic and Labor monetary resources for November.

    It’s true. It’s real. It’s being honest with you.

    No reverse psychology, it’s an uphill battle for Labor specifically, and Democrats and Social Service groups (Ironically, like Ounce of Prevention) collaterally with Proft on one front, Rauner on the other, and the financials to squeeze them all.

    Elections have consequences.

    This is a long, long, game. Long.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 10:53 am

  16. == It’s purposeful. Rauner’s words aren’t accidental, and if things collapse, Rauner hopes to cash in on the collapse, not prevent the collapse from happening at all. ==

    Exactly.

    Comment by thunderspirit Wednesday, Feb 3, 16 @ 10:53 am

  17. If the Governor was running a private business, I think the SEC would be having a discussion with him about ‘forward looking statements’ right about now.

    Comment by RNUG Wednesday, Feb 3, 16 @ 10:55 am

  18. darn those conspiracy theories.

    Thank you for the watchful eyes on what is truly an unfair fight between the collective society of taxpayers and big money men behind the curtain.

    Comment by cdog Wednesday, Feb 3, 16 @ 10:57 am

  19. I just don’t know how all the Republican members of the General Assembly can stand by and let Rauner destroy Illinois. I shutter to think what this state will look like in three more years.

    Comment by Because I said so... Wednesday, Feb 3, 16 @ 10:58 am

  20. “Rauner is willing to give CPS a little help if only Emanuel will “give a little help” to Rauner in his campaign to weaken the power of CPS and other public-sector unions.”
    This says it all - - I (governor) will destroy IL if you do not hand over the heads of the Unions on a platter.

    Comment by Mama Wednesday, Feb 3, 16 @ 10:59 am

  21. I know a lot of people on this blog are not fans of Rauner. I too hold disagreements with the man. But I truly think he’s gotten closer than any man alive at challenging the democratic stronghold/system of Illinois. Very rare to see a politician be willing to go to the brink for what he believes in. Shrewd? Yes. Determined? Absolutely.

    Comment by NixonHead Wednesday, Feb 3, 16 @ 10:59 am

  22. Where’s the cap fax parody song that makes use of Rauner rhyming with Fahner?

    Comment by hisgirlfriday Wednesday, Feb 3, 16 @ 11:00 am

  23. Crains, CapFax and Chicago Tonight are the only media sources I am seeing actually covering what is going on. The rest of the media needs to wake up and start covering the Gov’s tactics and what they truly mean.

    Comment by burbanite Wednesday, Feb 3, 16 @ 11:02 am

  24. –fundamentally broken, crumbling….–

    That’s the state of illinois, but RAUNER always does his best to make it worse, and blame others

    Comment by Langhorne Wednesday, Feb 3, 16 @ 11:02 am

  25. Bond issue or not: next step — city federal civil rights lawsuit to enjoin the state to provide equal funding. AG, asked to defend state, will be motivated to settle for good policy, financial stability, and good politics. Not sure what role the Governor could actually play in that dynamic.

    Comment by vibes Wednesday, Feb 3, 16 @ 11:02 am

  26. Because I said so: It’s called fear.

    Comment by GA Watcher Wednesday, Feb 3, 16 @ 11:03 am

  27. ===Very rare to see a politician be willing to go to the brink for what he believes in. Shrewd? Yes. Determined? Absolutely.===

    As a strategy?

    “Hang in there as I destroy everything to win”?

    Who in their right might thinks destroying a state is worth beating Democrats or Republicans.

    That’s insane thinking, and thinking insane thinking is admirable…

    Man, that’s on you.

    A pathetic way to want to admire alleged “winning”

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 11:03 am

  28. I still can’t help but wonder if this alleged all-out war between Rauner and Madigan, Emmanuel, et. al, is really just an elaborate political theater production, designed to let Rauner and the GOP take the heat for actions THEY would dearly love to take but can’t (bust public unions, scrap pensions, get out from under CPS, etc.) without losing their Democratic political base.

    Comment by Secret Square Wednesday, Feb 3, 16 @ 11:04 am

  29. Rauner can’t get his Turnaround Agenda so it’s on to the Sabotage Agenda. For a governor who claims he’s pro education, why is he working so hard to tear it apart at every level, from preschool to college?

    Comment by Wensicia Wednesday, Feb 3, 16 @ 11:05 am

  30. ==Very rare to see a politician be willing to go to the brink for what he believes in.==

    We’re beyond the brink. This insanity needs to end now.

    Comment by Demoralized Wednesday, Feb 3, 16 @ 11:07 am

  31. ==Claypool was trying to “schlep” the bonds? Oy. “Schlep” is Yiddish for haul, carry, drag, etc. Maybe he should try selling them instead.==

    Pretty sure he got that right.

    Comment by Touré's Latte Wednesday, Feb 3, 16 @ 11:08 am

  32. Secret Square: No. It isn’t.

    Comment by Archiesmom Wednesday, Feb 3, 16 @ 11:11 am

  33. “Rauner is Nero and Illinois is Rome”

    In fairness to Nero, he didn’t poor fuel on Rome’s fire.

    – MrJM

    Comment by @MisterJayEm Wednesday, Feb 3, 16 @ 11:12 am

  34. Rauner’s 1%er zealotry knows no bounds. He’s not a good guy. But until the general public figures out he’s not one of them he will continue his enemy from within approach. He has no intent of resolving issues only blowing it up. He represents the current hate nation wave.

    Comment by El Conquistador Wednesday, Feb 3, 16 @ 11:18 am

  35. Rauner not only wants to be governor, he wants to be mayor of Chicago too.

    Comment by Austin Blvd Wednesday, Feb 3, 16 @ 11:25 am

  36. ==“Rauner is Nero and Illinois is Rome”

    In fairness to Nero, he didn’t poor fuel on Rome’s fire.==

    Then again, burning down Rome wasn’t Nero’s business plan.

    Comment by Century Club Wednesday, Feb 3, 16 @ 11:28 am

  37. I think he would if he could, but I don’t think even Rauner has that kind of power (to convince megalenders to forgo making huge profits off of CPS (presuming that’s what their neutral evaluators concluded).

    Comment by lake county democrat Wednesday, Feb 3, 16 @ 11:30 am

  38. “- RNUG - Wednesday, Feb 3, 16 @ 10:55 am:

    If the Governor was running a private business, I think the SEC would be having a discussion with him about ‘forward looking statements’ right about now.”

    Exactly!

    Comment by Chicago Cynic Wednesday, Feb 3, 16 @ 11:31 am

  39. Mr. Rauner experiences no negative consequences from his “stand.” Until he does, whether physical, emotional, or legal, it won’t matter what anyone does or thinks. Even if non-Raunerite Dems increase in both chanbers, it won’t matter. Until Rauner experiences personal consequences, we are at stalemate. That’s just the way it is.

    Comment by My New Handle Wednesday, Feb 3, 16 @ 11:34 am

  40. “It is difficult to get a man to understand something when his salary depends upon his not understanding it.” Sinclair Lewis

    Maybe this observation explains why the light bulb of fiscal reality remains “off” in Illinois.

    Comment by Cook County Commoner Wednesday, Feb 3, 16 @ 11:34 am

  41. Enough of this turn around agenda cr*p, why doesn’t the gOVERNOR rAUNER say what he really means and say what Marie Antoinette said “Let them eat cake.” Then maybe enough people will speak up to help this guy realize that there needs to be responsibility to the PEOPLE.

    Comment by WETHEPEOPLE Wednesday, Feb 3, 16 @ 11:36 am

  42. Considering how fast Rauner responded to this post, it’s probably true.

    Comment by Wensicia Wednesday, Feb 3, 16 @ 11:37 am

  43. I don’t think the State (or CPS for that matter) really needs any help destroying itself financially. Perhaps all Rauner is doing is speeding up the process because he prefers his own solution to it.

    Comment by NixonHead Wednesday, Feb 3, 16 @ 11:38 am

  44. Not saying this is the case but is there any connection with the investors/companies that do business with CPS have a close connection with Rauner’s past business dealings.

    Comment by Almost the Weekend Wednesday, Feb 3, 16 @ 11:38 am

  45. ===*** UPDATE *** Gov. Rauner just called the allegation that he’s attempting to sabotage CPS bond sales “ridiculous.”===

    Agreed. Total unreasoning, unintelligible incompetence is most likely to blame. Poor Bruce. He was born with a silver foot in his mouth.

    Comment by Anonymous Wednesday, Feb 3, 16 @ 11:41 am

  46. Anon 11:41 is me. Oy.

    Comment by Ducky LaMoore Wednesday, Feb 3, 16 @ 11:41 am

  47. “You never want a serious crisis to go to waste.” -RE

    Comment by RE Wednesday, Feb 3, 16 @ 11:42 am

  48. I think back in the Blago days this would just be called a “coinkydink”

    Comment by BIG R. Ph. Wednesday, Feb 3, 16 @ 11:49 am

  49. Considering these are his tactics now, the SEC needs to examine past business dealings. A tiger doesn’t change his stripes, they’re just much more on public display now.

    Comment by Anonnymouse Wednesday, Feb 3, 16 @ 11:49 am

  50. “I don’t care about them one way or another.”

    Governor Bruce Rauner’s political epitaph.

    – MrJM

    Comment by @MisterJayEm Wednesday, Feb 3, 16 @ 11:49 am

  51. When I first suspected that gaming bond sales was an unspoken goal of the Runaground Agenda, I thought maybe my tinfoil hat was on too tight.

    Now though? This really smells bad. The feds need to start paying attention.

    Comment by TwoFeetThick Wednesday, Feb 3, 16 @ 11:51 am

  52. “Imagin the ‘The East India Tradin’ Company’ is now marketin’ Illinois, poachin’ bidnesses all over, all over the world… ”

    Ugh.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 11:52 am

  53. ask him what he was doing in new york a few days ago–taking in a play I’m sure

    Comment by anon Wednesday, Feb 3, 16 @ 11:52 am

  54. There’s no doubt that Rauner’s leverage and power to enact bankruptcy and takeover powers grows as CPS gets closer to missing a payroll payment, pension payment, bond payment or starts to really mess up providing services. He’s also correct in sizing up CPS’s current financial situation and calling borrowing for operations a “delayed” tax. In his defense, how many of the posters on here would invest their nest egg in CPS’s current bond offering? A 7.5% annual tax free interest payment is a pretty good ROI.

    Proposing tax hikes that Rauner won’t sign is almost the same as Rauner proposing bankruptcy now for CPS - neither can happen at the moment. As a result, the City is left with little option but to resort to additional property tax hikes that even the CTU now seems reluctant to support.

    Long term, bold, visionary, leadership - along with mutual sacrifice (tax hikes, cuts and restructuring) - is needed now from both CPS and the CTU in order to avoid Rauner creating the political support Rauner is growing in his attempt to enact CPS bankruptcy and takeover laws.

    Comment by Anon Wednesday, Feb 3, 16 @ 11:58 am

  55. ===*** UPDATE *** Gov. Rauner just called the allegation that he’s attempting to sabotage CPS bond sales “ridiculous.”===

    Then stop it.

    Once again, the walk and the talk can not be reconciled.

    Comment by cdog Wednesday, Feb 3, 16 @ 12:00 pm

  56. Of course he’s trying to sabotage the bond sale! This is his third press conference in a week saying the same thing and getting the gullible media to report it each time as if its new.

    The bond buyers read the stuff on the wire and wonder if its real, even though it’s as phony as the rustic ‘g dropping’ governor.

    Comment by Anonymous Wednesday, Feb 3, 16 @ 12:12 pm

  57. Of course he’s doing it to sabotage the bond sale! This is his third press conference in a week saying the same thing, and each time the gullible news media reports it as if it’s new.

    The bond buyers see this stuff coming across the wire and wonder if its real, even though it’s as phony as the rustic g-droppin’ governor.

    Comment by Chicago schooler Wednesday, Feb 3, 16 @ 12:14 pm

  58. If anyone in this state knows about the skittishness of investors in the capital markets, it’s our Governor. For a man who’s personally made some investors (and himself) millions by taking millions from other investors to suddenly feign ignorance about how well-timed public statements by key figures can instantly kill enthusiasm for any issue is what seems “ridiculous”. And, speaking of timing, people ARE going to question how a public official who is so notoriously press-avoidant seems to be finding people with cameras and microphones at the exact right time for his statements to have maximum impact.

    Comment by Jeeves The Cat Wednesday, Feb 3, 16 @ 12:17 pm

  59. Jeeves for the Win!

    Comment by sideline watcher Wednesday, Feb 3, 16 @ 12:25 pm

  60. Once is a coincidence.
    Twice is a pattern.
    Three times is sabotage.

    I also wonder how much Rauner’s donors will financially benefit by CPS having to pay higher interest rates.

    Comment by Carhartt Representative Wednesday, Feb 3, 16 @ 12:30 pm

  61. =Not saying this is the case but is there any connection with the investors/companies that do business with CPS have a close connection with Rauner’s past business dealings.=

    Great question

    Comment by Carhartt Representative Wednesday, Feb 3, 16 @ 12:33 pm

  62. I think (almost) everyone in this space should absolutely go out and purchase as many CPS bonds as possible and encourage their public pensions to do the same.

    Comment by Georg Sande Wednesday, Feb 3, 16 @ 12:37 pm

  63. Here’s the problem with Rauner’s response: he said he doesn’t care one way or the other about the bond buyers. But the bond buyers were never the target of his intended harm. It’s CPS. He wants the bond sale to go badly or be more expensive to hurt CPS. He always defends against criticism with that sort of sleight of hand deflection.

    Comment by Concerned Wednesday, Feb 3, 16 @ 12:39 pm

  64. –I think he would if he could, but I don’t think even Rauner has that kind of power (to convince megalenders to forgo making huge profits off of CPS (presuming that’s what their neutral evaluators concluded).–

    The bonds will sell. But the governor’s consistently well-timed negative remarks are added to the risk factor when ratings are assigned and the bonds are priced.

    In short, he’s driving up the cost of issuing debt.

    Can everyone just give that a think for a moment, and consider just how weird that willful sabotage is coming from the governor of any state?

    To accept his denials in this matter, you must believe that Gov. Businessman, who made his career and his fortune as an investor, is an unsophisticated rube when it comes to how risk assessment impacts price.

    His denials are simply not believable.

    Unless — scarier scenario: he truly believes everything he says, regardless of how preposterous, simply because he says it.

    Comment by wordslinger Wednesday, Feb 3, 16 @ 12:40 pm

  65. At least he didn’t blame this one on Madigan.

    Comment by Anonymous Wednesday, Feb 3, 16 @ 12:45 pm

  66. Snark Alert-

    Here’s an idea. In negotiations with ASFCME, get they to agree to some of the cuts you want, Governor, in exchange for so many Illinois GO bonds and CPS school bonds. 2-3% COLA, or 5-7% interest rate… Might be the game changer! /s,s,s

    Comment by Anon221 Wednesday, Feb 3, 16 @ 1:09 pm

  67. Notice how he said ‘ridiculous’ and not ‘untrue.’

    Comment by late to the party Wednesday, Feb 3, 16 @ 1:20 pm

  68. The governor knows exactly what he’s doing - this is how he rolls - the “takeover” business model.
    So, purposely jawboning up the interest rates of a takeover target prior to a bond offering is probably a strategic tactic in the vulture capital/hedge fund-corporate takeover universe.
    But in the public sector it looks more like an act of municipal murder – a governor making disparaging public announcements at the very moment that a municipality is about to take a bond deal to market is an act of sabotage. If this is not a crime, then it should be.
    Where are the feds when you need them? Oh, right - they’re in Michigan busy investigating his buddy, Snyder.

    Comment by TinyDancer(formerly Sue the other one) Wednesday, Feb 3, 16 @ 1:24 pm

  69. >Can everyone just give that a think for a moment, and consider just how weird that willful sabotage is coming from the governor of any state?

    If bankruptcy is his panacea, everything that makes the economic situation in Illinois worse is a day closer to irreparable harm or, as it is sometimes called, “leverage.”

    Comment by Earnest Wednesday, Feb 3, 16 @ 1:27 pm

  70. Up to an 8.5% yield:

    http://www.reuters.com/article/chicago-education-bonds-idUSL2N15I291

    Comment by Anon221 Wednesday, Feb 3, 16 @ 1:34 pm

  71. Rauner really must love Paul. The rob Union Peter to pay financier Paul is truly a great deal for the Illinois taxpayer. If he really tries, he can cover the entire 9.4% pension pick-up spread and give it to out of state bondholders.

    Comment by Ipso Facto Wednesday, Feb 3, 16 @ 1:41 pm

  72. Word on the street (and the twitters) is that CPS is offering 8.5% interest to bond investors! The comparisons to Puerto Rico are starting as well!

    Comment by Anon Wednesday, Feb 3, 16 @ 1:47 pm

  73. As I said in a post yesterday, could he be deliberately trying to panic potential investors in the bonds so that they stay away or enter low bids, so that his friends (or the governor himself) can buy the bonds cheap and make a killing when he eventually stops his stonewalling on the budget and the situation improves from “disastrous” to “merely terrible”? It’s a lot easier for an insider to talk an investment down temporarily than it is to talk it up, so badmouthing Chicago before a bond issue is good strategy for a vulture capitalist.

    I’ll put my tinfoil hat back on now, and go sit in the corner.

    Comment by Whatever Wednesday, Feb 3, 16 @ 1:47 pm

  74. Re: Wordslinger’s analysis - hmm - I don’t know how much worse CPS’ bond rating could go, but it does have “explanatory power”…

    Comment by lake county democrat Wednesday, Feb 3, 16 @ 1:50 pm

  75. At what point does selling municipal 30 year obligations, less than a year after a very close re-election campaign, at a gigantic interest rate to cover short term bond payments and operations become a political issue or at least one to jump start recall legislation? It smells a little too much like Rezco and Kelly selling Board appointments for campaign contributions. It’s all legal, sort of, maybe, maybe not…

    Comment by Anon Wednesday, Feb 3, 16 @ 1:55 pm

  76. Sure hope the Feds are keeping an eye on this.

    Comment by cdog Wednesday, Feb 3, 16 @ 2:00 pm

  77. Hinz could use a little editing, and more care with his acronyms, so as not to cause even more confusion:

    –Though no one will speak for the record, insiders are charging that Rauner, who wants to bust the CTU by forcing it into bankruptcy, is trying to block the system’s ability to borrow that $875 million.–

    He must mean “bust the CTU by forcing the school system into bankruptcy…”

    –…Rauner is willing to give CPS a little help if only Emanuel will “give a little help” to Rauner in his campaign to weaken the power of CPS and other public-sector unions.–

    Has to be “…CTU and other public sector unions.”

    Need to avoid confusing the matter further.

    It’s already hard enough to wrap the head around the fact that we have a governor who spends his days doing things like sabotaging bond sales of the state’s largest school system, driving up the cost to taxpayers.

    Beats doing his real job, I guess.

    But, seriously, how weird is it going to get with this guy?

    Comment by wordslinger Wednesday, Feb 3, 16 @ 3:00 pm

  78. He doesn’t care what decisions bond holders make? What a stupid comment for a governor to make.

    Comment by RIJ (formerly PolPal56) Wednesday, Feb 3, 16 @ 3:00 pm

  79. With the constant borrowing of CPS, when is a good time to speak out about CPS?

    I know the above question interferes with the various tin foil hat conspiracy theories floating in the comments section, but it does need to be asked. Rauner wants to take over CPS to do what with it? Add to his misery of trying to govern this State?

    Sheesh!

    Of course, no structural reforms of CPS need take place. It is the most perfectly structured and administrated public school system on this planet! It is also the most fabulously run school system in the nation. The best that Chicago and Illinois can offer!

    Sheesh!

    Comment by Louis G. Atsaves Wednesday, Feb 3, 16 @ 3:16 pm

  80. wordslinger: “how weird is it going to get with this guy?”

    summon up your most cynical cynicism, now double it, and know that rauner starts somewhere beyond that point.

    Comment by Homer J. Quinn Wednesday, Feb 3, 16 @ 3:19 pm

  81. ===Of course, no structural reforms of CPS need take place. It is the most perfectly structured and administrated public school system on this planet! It is also the most fabulously run school system in the nation. The best that Chicago and Illinois can offer!===

    - Louis G Atsaves -

    No one has said that.

    Holding hostage children by Bruce Rauner’s choices, yep, Rauner owns that.

    You’re much smarter than what you try to pass off as thoughtful when you’re not totally owning the WC discussion.

    I’m embarrassed for you that you think “Rauner’s way or no way”, and that is compromisin’

    C’mon bud, I have hoped you’d help the governor find his feet. Rauner still thought he could just take over CPS.

    How sad is that?

    Help him, strawmen don’t help.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 3:26 pm

  82. Mr. Atsaves, what specific reform of CPS has the Governor proposed? And in which of his recent announcements poor-mouthing CPS did he give any details of that reform and how it might be accomplished? Having the State take over is not a reform, it’s at best a means to allow reforms to be imposed. What reforms is he proposing?

    Comment by Whatever Wednesday, Feb 3, 16 @ 3:26 pm

  83. CPS has problems, but the idea that the state of Illinois is going to make things better is kind of like Keith Richard having an intervention for Miley Cyrus.

    Comment by Carhartt Representative Wednesday, Feb 3, 16 @ 3:28 pm

  84. ==Of course, no structural reforms of CPS need take place. It is the most perfectly structured and administrated public school system on this planet!==

    Oh for pete’s sake nobody has said that. This is the same nonsense that some people bring up to anyone who doesn’t support the Governor’s “Turnaround Agenda” - if you aren’t for it you are for the status quo. It’s absolute garbage and apparently you want to perpetuate that garbage with your absolutely ridiculous comment.

    Comment by Demoralized Wednesday, Feb 3, 16 @ 3:42 pm

  85. –With the constant borrowing of CPS, when is a good time to speak out about CPS?

    I know the above question interferes with the various tin foil hat conspiracy theories floating in the comments section,…–

    What are you talking about, “tin foil hat conspiracy theories floating in the comments section,…–?”

    The subject of the thread is a Greg Hinz column in “Crain’s” in which Emanuel adminstration peeps are charging Rauner with trying to sabotage the bond sale.

    Rich, in the first sentence of the thread, speculated to the the same thing.

    Louis, it’s obvious you didn’t read the thread at all before launching into your pre-approved talking points.

    But, then again, to do your bit doesn’t require gathering information or independent thought.

    Comment by Anonymous Wednesday, Feb 3, 16 @ 3:58 pm

  86. I don’t know why the Governor would need to bad mouth the proposed CPS bond sale. The CPS accounting records will take care of that, with help from the CTU.

    Considering the recent Reuter piece on the expected interest rate, going forward with the sale is near criminal. This is like socializing the losses of big banks by federal intervention. Instead, CPS is socializing years of fiscal incompetency onto the backs of taxpayers.

    So now what. A bond sale and tax increase followed by the same in a year?

    Comment by Cook County Commoner Wednesday, Feb 3, 16 @ 4:04 pm

  87. ===”Louis, it’s obvious you didn’t read the thread at all before launching into your pre-approved talking points.”===

    Pre-approved talking points? Your tin foil hat must be a little tight!

    Are you telling me the CPS isn’t the best administered public school system in the universe? Or is putting yet another financial bandaid on the mummy that is called CPS the only approved way to continued greatness around here? CPS is not subject to any criticism over its practices whatsoever?

    “Sabotage.”

    Sheesh!

    Comment by Louis G. Atsaves Wednesday, Feb 3, 16 @ 4:18 pm

  88. @Willy, are you telling me that CPS is the best administered public school system in the universe? Subject to absolutely no criticism, ever? Because it is perfectly administered?

    “Holding Children Hostage?” Because Rauner wants to ruin all that perfection?

    Sheesh!

    Comment by Louis G. Atsaves Wednesday, Feb 3, 16 @ 4:22 pm

  89. ===”Holding Children Hostage?” Because Rauner wants to ruin all that perfection?===

    Do this. You get money. Don’t. No money.

    That’s on ANY governor. You know that.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 4:28 pm

  90. @Willy, ===”That’s on ANY governor. You know that.”

    So are you telling me you are in favor of State control of CPS? Is that what you tell a bank when you seek a loan and it gives you conditions before you get the cash?

    Sheesh!

    Comment by Louis G. Atsaves Wednesday, Feb 3, 16 @ 4:33 pm

  91. ===So are you telling me you are in favor of State control of CPS?===

    A competent governor would know the State can’t take over CPS.

    ===Is that what you tell a bank when you seek a loan and it gives you conditions before you get the cash?===

    Is decimating collective bargaining on a spread sheet?

    Oh - Louis G Atsaves -, it’s the union Rauner wants, not the guarantees of a financial change.

    You know that.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 4:45 pm

  92. @willy, ===”it’s the union Rauner wants, not the guarantees of a financial change.”===

    Proof? None tendered.

    Sheesh!

    Comment by Louis G. Atsaves Wednesday, Feb 3, 16 @ 4:53 pm

  93. ==Proof?==

    Are you still peddling your nonsense the the Governor isn’t going after unions?

    Sheesh!

    Comment by Anonymous Wednesday, Feb 3, 16 @ 4:57 pm

  94. That was me above

    Comment by Demoralized Wednesday, Feb 3, 16 @ 4:57 pm

  95. - Louis G Atsaves -

    Rauner said the way contracts are negotiated, including salaries and gettin’ out of contracts.

    You kbow that.

    Why play this - Louis G Atsaves - like you don’t know.

    You want peolpe to think outside WC you know very little?

    Why?

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 5:00 pm

  96. Louis, if you keep saying that the governor doesn’t want to clip the unions, you’ll get in trouble with the boss.

    You’re giving him a bad name among his contributors and they might ask for their money back.

    And they might throw a net over you, because you’re talking crazy.

    Comment by wordslinger Wednesday, Feb 3, 16 @ 7:56 pm

  97. @word, the Governor had 17 opportunities to destroy 17 public sector unions and instead of “decimating” them, he negotiated contracts with them.

    Throw a net over those facts instead!

    Comment by Louis G Atsaves Wednesday, Feb 3, 16 @ 8:11 pm

  98. Um, - Louis G Atsaves -

    Having an agreement then fightin’ to end collective bargainin’ and prevailin’ wage IS what Rauner wants, has wanted, and your refusal to see that shoes you are willfully ignorant, not blissfully unaware.

    Do I need to point out where the property tax freeze requires collective bargainin’ and prevailin’ wage decimation.

    It’s part of the Bill.

    When Democrats run the property tax freeze bill without the Union decimation language, Rauner makes the GOP GA vote “Red” or “Yellow”.

    Who are you tryin’ to fool?

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 8:21 pm

  99. @Word, 17 public sector unions escaped being “decimated” and reached agreement with the Rauner administration. Actions speak louder than words. He had the opportunity to destroy them and didn’t.

    Rauner was on WGN Radio during the Cochran Show 2-3 weeks ago and stated that he was not interested in “decimating” public sector unions.

    You may want to reconsider that net.

    Comment by Louis G Atsaves Wednesday, Feb 3, 16 @ 8:21 pm

  100. - Louis G Atsaves -

    Rauner said in the last 24 hours that CPS bankruptcy will help with lowering wages, take away parts of collective bargainin’ and weaken the union strength.

    Purposely.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 8:24 pm

  101. - Louis G Atsaves -

    What’s next, Rauner is the friend of Trade and Public Sector Unions?

    Did you forget the Decatur PowerPoint presentation?

    LOL

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 8:26 pm

  102. Louis, we’ve had this discussion before. Let’s try these two sentences again:

    1. Under current law, the governor is required to collectively bargain with public employee unions.

    2. The governor has made very clear that he would like to change those laws that he is now required to follow and end collective bargaining.

    If you truly can’t process those two sentences and hold them in your mind at the same time, do us all a favor and take the bus instead of driving.

    If you’re just doing a bit, it’s embarrassingly weak.

    Comment by wordslinger Wednesday, Feb 3, 16 @ 8:30 pm

  103. @Word, he successfully negotiated with 17 public sector unions. Not a single one of them were “decimated.”

    Why do you fail to understand those basic facts? Because they fail your failed narrative to the contrary? 17 times no less! Not once. Not twice.

    Anyway you look at it, the pendulum in Illinois swung too far in favor of public sector unions and it needs to swing back. It can swing back without unions being “decimated” and the “middle class destroyed” and other horrifyingly nonsensical arguments being thrown around. And this coming from a guy who worked his first legal job for a law firm whose principle was a Union President.

    Good businessmen can coexist with unions on terms both sides can live with. Good union leaders can coexist with businessmen on terms both sides can live with. But both sides have to look at the financial facts. If the money isn’t there, it isn’t there. If it is there, then act accordingly.

    IF CTU, AFSCME and others want to strike, they are free to do so. If they want to successfully negotiate a contract, then they better start up right away.

    Because the money just isn’t there right now.

    Comment by Louis G Atsaves Wednesday, Feb 3, 16 @ 9:08 pm

  104. ===But both sides have to look at the financial facts. If the money isn’t there, it isn’t there.===

    So lowering prevailing wage?

    That’s what Bruce Rauner has said, in PowerPoint no less

    Union workers make too much money.

    Do you think you make too much money?

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 9:19 pm

  105. - Louis G Atsaves -

    What about the Property Tax Freeze and Collective Bargaining?

    You never address that.

    Why?

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 9:20 pm

  106. ===Anyway you look at it, the pendulum in Illinois swung too far in favor of public sector unions and it needs to swing back.===

    Be very specific. Cite what change is needed.

    Specifically.

    Comment by Oswego Willy Wednesday, Feb 3, 16 @ 9:22 pm

  107. Mr. Atsaves, when you’re done bantering with Oswego Willy about the Governor’s contracts with 17 of the unions who represent small portions of the state workforce and have their own health plans (so that the biggest issue in the AFSCME negotiations isn’t even part of the bargain), could you please name me even one reform of CPS that the Governor is proposing?

    Comment by Whatever Thursday, Feb 4, 16 @ 8:30 am

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