Jeez. 
Illinois has abandoned hopes of affordably raising $1.2 B from the bond market and has turned instead to new @federalreserve Muni Liquidity Facility. IL will be first state to tap Fed, meant to be a lender of last resort. Via @Wirepoints
https://wirepoints.org/mismanaged-illinois-becomes-first-state-to-borrow-from-new-fed-reserve-facility-wirepoints/ … #twill #munilandpic.twitter.com/MfE0BOyOlc
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Welp, guess we're there folks.....nobody in their right mind would give money to this state....
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Incredibly sad to see Illinois destroyed by mismanagement. The impact of this on lives of residents is
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Starting with graduated income taxes that will more than likely be passed this fall. Illinois is so screwed.
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Is the Fed muni facility permanent & unlimited? If not IL is screwed because the bond market will remain closed. IL is not a creditworthy counterparty.
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I’m suprised they just didn’t do that deal direct with Pritzker family office.
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Pritzker knows too much about Illinois incredibly frail financial condition. He wouldn’t personally make such a bad investment. He knows all the angles, removed toilets from one of his mansions to get property tax breaks. Illinois middle class taxpayers get screwed, again.
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Don’t let them.
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Perfect.
@GovPritzker and@chicagosmayor have tanked the Democratic wrecked junk bond state to a point NO will buy a bond. For the laymen this means cuts in all services, higher taxes and far less jobs. Vote blue to be screwed!Thanks. Twitter will use this to make your timeline better. UndoUndo
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