The [Monday] Papers
"Now under investigation by two state agencies, the United Neighborhood Organization is also facing tough questions on Wall Street from investors who lent tens of millions of dollars to help pay for the rapid expansion of UNO's charter-school network," the Sun-Times reports.
That's right - charter schools are a Wall Street play. Get it now?
"During a March 27 'investor update call,' UNO's chief executive officer, Juan Rangel, tried to reassure the Wall Street interests, who lent his organization $37.5 million in 2011 through state-approved bonds.
"He told representatives from Wall Street financial houses he felt UNO still had the support of state officials, according to a recording of the call. He said he expected Springfield would continue to bankroll construction of the new charter high school at 51st and St. Louis and that the half-built school would open, as planned, for next school year and 'ensure our long-term viability.'"
Click through to read the whole thing - including the suspicions of one financier who thinks there's more going on than we know about.
"The questions were prompted by Chicago Sun-Times reports on $8.5 million in state grant funds paid to companies owned by two brothers of Miguel d'Escoto, a top UNO executive."
From reader Jon Markel:
"Last fall Chase Bank had a commercial with Rodrigo d'Escoto from Reflection Window (and UNO Charter School) on its small business promotional website as an example of success story made possible by Chase. The recent events surrounding the reality of his business success made Chase rethink the role they played in his business's success. But the Internet has ways of remembering."
"And finally lets look at the difference between the cached and current versions of their webpage:"
Cached (from Jan 29, 2013). See fourth video.
Current. Video removed.
"I guess Chase Bank doesn't like promoting its competition in the sleazeball industry."
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Posted on May 13, 2013
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