| Police Brutality Bonds Raise
Questions About Investments by Federal
Reserve and UN
By Matthew
Russell Lee, Patreon Soundcloud
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
June 6 – Amid the protests of
police brutality triggered by
the murder of George Floyd in
Minneapolis, U.S. cities' use
of municipal bonds reduce the
cost of their abuse of
residents has come into focus.
Holders of issuances such as
Chicago, IL 7.045% 2029 bonds
have been petitioned to
acknowledge their role in
enabling and reducing the
costs of
brutality. A
former attorney for the City
of Chicago admitted, "When you
had to budget more for police
tort liability you had less to
do lead poisoning screening
for the poor children of
Chicago. We had a
terrible lead poisoning
problem and there was a direct
relationship between the
two. Those kids were
paying those tort judgments,
not the police officers."
Chicago’s
lawsuit payouts required the
city to sell $1 billion in
bonds in 2011 and to issue
$100 million in bonds in
2014.111 Yet the
spokesman for the
Chicago Police
Department made clear that
“the police department isn’t
forced to cut back on things
like OT [overtime] or
equipment purchases due to
litigation costs Email from
Roderick Drew, Freedom of
Info. Officer, City of Chi.
Law Dep’t, to author (Oct. 9,
2013), on file with Joanna C.
Schwartz of UCLA School of
Law. See, 63 UCLA L. Rev.
1144.
But what about
the Federal Reserve, which is
taking credit for its purchase
of municipal bonds as for its
involvement in the
increasingly disparate
Paycheck Protection Program?
Any screening on issues of
police brutality and others by
the Fed is not apparent. And
what about the United Nations
and its UN Pension Fund? Inner
City Press will have more on
this.
***
Your
support means a lot. As little as $5 a month
helps keep us going and grants you access to
exclusive bonus material on our Patreon
page. Click
here to become a patron.
Feedback:
Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA
Mail: Box 20047, Dag
Hammarskjold Station NY NY 10017
Reporter's mobile (and weekends):
718-716-3540
Other, earlier Inner City Press are
listed here,
and some are available in the ProQuest
service, and now on Lexis-Nexis.
Copyright 2006-2019 Inner City
Press, Inc. To request reprint or other
permission, e-contact Editorial [at]
innercitypress.com for
|
,
