Chicago Rahm Emanuel pulling the "Jew Banker Move" - Day after Rahm Emanuel paid the (CPS) Chicago Public Schools Pension Fund $600 Million Dollars, Rahm asks the same pension fund for $500 million loan

One day after using borrowed money and savings generated by 1,400 layoffs to make a $634 million payment to the teachers pension fund, Mayor Rahm Emanuel’s administration is asking the pension fund for a five-month, $500 million loan.

At a pension fund meeting Wednesday, Chicago’s newly appointed Chief Financial Officer, Carole Brown, said she’s well aware it’s a “big ask,” particularly after the history of pension holidays and partial payments that created the $9.5 billion pension crisis at the Chicago Public Schools.

But Brown said the loan is needed to avoid even more devastating classroom cuts. The loan would be made in fiscal year 2016, when CPS would shift from a lump-sum pension payment to monthly payments. When the loan is repaid in fiscal year 2017, the Chicago Teachers Pension Fund would get the money back — with interest.

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