Chicagoans impacted by violence are calling for state investments in anti-violence programs over payments to banks for "toxic" interest rate swap agreements.
Clergy, community members and leaders of the Grassroots Collaborative are joining Chicagoans affected by violence at a press conference Friday morning to speak out on the issue. They plan to gather outside a Chase bank branch at 3101 W. Cermak Road.
"Last year the state of Illinois spent $92 million on toxic interest rate swaps but a dismal $2.4 million on successful anti-violence programs including After School Matters, Ceasefire, Teen Reach, and summer jobs," reads a statement from the Grassroots Collaborative.
Community members want "anti-violence programs to be fully funded and expanded" and are calling on Gov. Bruce Rauner "to act next week to renew six letters of credit that would prevent the state of Illinois from unnecessarily paying out an additional $870 million to Wall Street banks on November 27th, 2016."