There was an intriguing and seemingly-knowledgeable comment left on the blog last week suggesting that there are bigger and more immediate troubles facing CPS than gangs and school closings: money.
In essence, the commenter was describing how CPS has a district-sized adjustable-rate mortage (ARM) -- the kind that starts out with a low rate and then balloons wildly at some point down the line -- that it is struggling to pay.
There's stimulus money coming -- probably not enough, but still -- and some grants and earmarks (Obama's chief of staff has some in bill).
The good news is that -- so far -- there's no word that CPS was invested with Bernie Madoff, or that it was involved with toxic mortgage securities.
Filed under: 125 S. Clark Street