When we first reported on interest-rate swap deals in May, the advocacy
group National People's Action told Progress Illinois that it takes a
huge amount of pressure for big banks to renegotiate rates.
the Chicago Teacher’s Union is apparently taking that advice to heart.
The union is again ramping up their continuous pressure on Bank
of America and other big banks to re-negotiate interest-rate swaps with
the Chicago Public Schools system. The union is hosting a march and
rally Wednesday evening with 200 of its members after a cordial,
but not fruitful, meeting on Tuesday with bank officials.
Read more »