Chicago Sun-Times Editorial: How insiders work toxic deals for taxpayers

The following editorial ran in the Chicago Sun-Times on October 11, 2016. Photo of warehouse in Little Village by Leslie Adkins/Chicago Sun-Times.

Allow us today to discuss two realities of life and how they can go all wrong in Chicago.

1] When money for city employee pensions is blown on a bad investment, retirees don’t get smaller pensions. Those pensions are guaranteed. You, the Chicago taxpayer, must make up the difference. So you would hope the people who pick and choose pension fund investments are incredibly diligent. But this is Chicago.

2] Sometimes the city gives a big property tax break to a developer who promises to create new jobs. Nothing wrong with that. But you would hope that enough new jobs are created to justify the tax break. But, again, this is Chicago. More

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