Sign the petition and tell Illinois Attorney General Lisa Madigan to scrutinize big banks for rotten deals costing our Cities and State millions:
We’re in a revenue crisis. The lack of money in our cities and states is impacting all of us. That’s why people from across the state are standing together to say, “We found the money. It’s on Wall Street.”
The same big banks and corporations that crashed our economy continue to drag us down by foreclosing on families, not lending to small businesses, and driving up unemployment.
Did you know we also pay them MILLIONS each year in interest on rotten deals?
- The State of Illinois pays $88 million each year to big banks for rotten deals
- The City of Chicago pays $74 million each year to big banks for rotten deals
That’s $162 million dollars out of our pockets. That’s $162 million dollars Illinois cannot spare.
These deals, called “interest-rate swaps”, were supposed to save us money, but they backfired. Banks started getting almost 0% interest to help the recovery after they crashed the economy. Now, while we face devastating cuts, they keep sucking money out of our government coffers. Enough is Enough!
We’re calling on Attorney General Lisa Madigan to look into these bad deals. Please sign and pass them on.
Dear Attorney General Lisa Madigan,
We, the undersigned thank you for being an aggressive advocate for consumer and worker rights.
Your power to look into fraud and wrongdoing in the State of Illinois is critical to our communities, and critical to our economic recovery. During this revenue crisis, we can’t let Big Banks and Wall Street continue to gouge our communities.
We call on you to look into these rotten deals. Through 2012 these interest rate swaps will have cost Illinoisans nearly $800 million dollars. We cannot afford to keep being ripped off.
We call on you to hold hearings on these deals immediately. Our financial futures depend on your action.