Shockingly Bad Fiscal Health of Chicago (and the Financial Engineering Chicago Uses to Hide that Fact)
MishTalk
APRIL 1, 2015
Among other things, she handles the structuring and sale of bonds for schools across the state. Although most governments are required to balance their budgets on a cash flow basis each fiscal year, a structural budget gap can arise when recurring expenditures are greater than recurring revenues. swaptions and the like.
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