I spy Rahm Emanuel with my Illinois eye.
In 2015, the International Business Times wrote this.
It is the kind of transaction Mayor Rahm Emanuel’s much-touted ethics reforms appeared designed to halt: Chicago teachers’ pension money flowed to financial companies connected to some of the mayor’s friends and top donors. Emanuel, whose administration appoints some members of the teachers’ pension-fund board, received campaign cash from those same financial firms despite his own 2011 executive order purportedly preventing donors from receiving city business.
What has changed?
I correct that statement. Every link in the original story about the much-touted ethics reforms is broken and leads nowhere. Welcome to Chicago.
Oh yes- and the Mayor just got another cash infusion from the same players.
A little history:
From 2001-2008 when Rahm was a member of Congress his top donor was Madison Dearborn Partners.
In 2014, three top leaders at Chicago private equity powerhouse Madison Dearborn Partners also made six-figure contributions to the Chicago Forward PAC.
On June 15, 2018, three executives with Madison Dearborn Partners, a Chicago-based private equity investment firm, donated more than $700,000 was donated to Chicago for Rahm Emanuel.
Rahm Emanuel’s personal wealth was ‘earned’ by working with private equity guys like his good friend and current Governor Bruce Rauner.
Bruce Rauner claims he was a smart business guy and an outsider. The reality is he made is money by getting state pension money to invest in his private equity firm and taking a cut.
The Illinois State Board of Investments is now doubling the private equity investments made on behalf of State employee’s pension funds since Governor Rauner was elected.
Governor Bruce Rauner’s personal income has tripled since he’s become, Governor.
Bruce Rauner donated to Rahm’s 2012 mayoral campaign and donated $50,000 to former Chicago Mayor Richard M. Daley’s campaign in 2003. And pulled a Democrat ballot in the 2006 primary.
Back to the story – What else was reported?
“When Mayor Emanuel took office, he said he was going to stop the culture of pay-to-play,” said Alderman Scott Waguespack, who is among a group of lawmakers asking the U.S. Securities and Exchange Commission to investigate whether the donations also violated that agency’s anti-corruption rule. “This is an example of his failure to follow through on those promises.”
The firm affiliated with Illinois’ Republican Gov. Bruce Rauner — a longtime friend of Chicago’s Democratic mayor — as well as executives at private-equity giant Madison Dearborn have gained substantial investments from the Chicago Teachers’ Pension Fund (CTPF) since Emanuel took office. The documents also show the CTPF has an indirect equity stake in Grosvenor Capital Management. Executives at the latter two firms have donated nearly $1.8 million to Emanuel’s campaign and political organizations since 2011.
There’s a lot more in the article so go read the whole thing.
One of the reasons Chicago is so corrupt is because it’s “bigger than the State” in the sense that no one can police Chicago.
Chicago has “home rule” status on so many laws that it might as well be a different state. Ordinances enacted by home rule municipalities trump state statutes unless the state expressly exercises exclusive control, the U.S. Supreme Court rules in a condo case.
Chicago is a one-party town. If you don’t register as a Democrat, you are effectively disenfranchised, since most races are decided in the primaries.
The utopia that social engineers were going to build is on full display in Chicago. This is a cruel income disparity and property tax system designed by the insiders. That’s how the Chicago Democrat Party sticks it to poor people while the elites are laughing all the way to the bank.