Mike Klonsky updates us on Rahm’s financial hustle. 

Rahm Emanuel, who learned his creative financing tricks, like “scoop and toss” bond financing while working for Bruce Rauner at GTCR, plans to borrow $500M from the Chicago Teachers Pension Fund, one day after paying the Fund $634M in overdue required city contributions.

The real cost of this trickery is felt right in the classroom with 1,400 teachers and staff being hit with lay-off notices yesterday.

That is what is called “chutzpah.” He pays the pension contribution, borrows from the teachers’ pension funds, and lays off 1,400 teachers.