CPS’ pain is these firms’ gain
![090806_rahm_emanuel_ap_297[1]](http://www.educationviews.org/wp-content/uploads/2014/09/090806_rahm_emanuel_ap_2971.jpg)
Even as the Chicago Public Schools face a dire financial situation, dozens f financial and legal firms have been paid $18.1 million in fees from CPS borrowing and debt-refinancing deals since 2011, according to records obtained by the Chicago Sun-Times.
Struggling to make payments for pensions and pay down billions of dollars in debt, the Chicago Public Schools last week announced 1,050 layoffs and $200 million in spending cuts to keep the school system afloat.
But while taxpayers and students may suffer, a select group of business people have profited from the Chicago Board of Education’s decisions to keep borrowing to pay its bills.
Dozens of financial and legal firms have been paid $18.1 million in fees from CPS borrowing and debt-refinancing deals since 2011, according to records obtained by the Chicago Sun-Times.
Source: THE WATCHDOGS: CPS’ pain is these firms’ gain
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