Windy City Media Group Frontpage News

THE VOICE OF CHICAGO'S GAY, LESBIAN, BI, TRANS AND QUEER COMMUNITY SINCE 1985

home search facebook twitter join
Gay News Sponsor
Donate

Sponsor
Sponsor

  WINDY CITY TIMES

Police Brutality Bonds Report Reveals Companies Profiting from Police Violence
From a press release
2018-06-28

This article shared 1001 times since Thu Jun 28, 2018
facebook twitter google +1 reddit email


CHICAGO—Today, the Action Center on Race & the Economy ( ACRE ) held a press conference to release the new "POLICE BRUTALITY BONDS: How Wall Street Profits from Police Violence," report showing the estimated cost of police misconduct for taxpayers in several U.S. cities and counties around the country, and naming several well-known companies who continue to profit from police violence.

Read the full report here www.acrecampaigns.org/pbb .

Police violence and misconduct cases are on the rise throughout cities across the United States wreaking havoc particularly on communities of color, causing debt, and leaving taxpayers to pick up the tab while banks and investors profit.

"Victims and their families deserve to be compensated. The payments they receive are a paltry sum for the harm they suffer at the hands of killer cops," said Saqib Bhatti from the Action Center on Race and the Economy. "However, it's unconscionable that banks like Bank of America, Wells Fargo and Goldman Sachs get a cut when a crooked cop kills an innocent Black person."

"Some of our nation's largest corporate entities have made $1 billion in profits off of police violence," said Maurice BP-Weeks from the Action Center on Race and the Economy. "While we fight to hold violent officers and police departments accountable to our communities, we must also work to hold banks and investors accountable for their role in perpetuating and profiting from our existing system."

The report features 12 cities and counties, as well as five case studies on: Chicago, Cleveland, Lake County ( Indiana ), Los Angeles, and Milwaukee. Across these five municipalities, ACRE estimated $1.87 billion in public debt stemming from police violence and the excessive settlement and judgment costs. Of the $1.87 billion in costs related to police brutality bonds, more than half - $1 billion - was investor profit.

The interest and service fees on these bonds can nearly double the cost of the original settlement—leading to substantial profit for banks, investors, and a financial burden for everyone else.

"I'm outraged because our communities struggle from poverty and disinvestment while banks profit from the bloodshed by dishonest police officers," said Janice Peters, a community organizer with the Action Now Institute and a longtime resident of Chicago's West Side.

"This ACRE report confirms what Black youth as young as 11-years-old have been saying for the past 8 months," said Makeda Roberson-Vickery from BYP100. "Chicago spends 40 percent of its budget on policing, not including money spent on police settlements, but the city can't find money for mental health services, housing, schools and all the community resources that actually keep communities safe."

In a Chicago City Council meeting following the press conference, Alderman Carlos Ramirez-Rosa ( 35th Ward ) and other Chicago Aldermen introduced a resolution calling for hearings into the city's routine use of police brutality bonds in light of the report.

""It is estimated that the City of Chicago has spent over $800 million on police-related settlements since 2004 and borrowed hundreds of million using police brutality bonds to make the payments," said Ramirez-Rosa. "While big banks profit from racist policing, our communities face record school closures, crumbling infrastructure and lack of access to social services. We need a Chicago that invests in our Black and Brown communities and holds police accountable for their crimes."

ACRE is encouraging the public to sign a petition calling on elected officials, cities, police and Wall Street to end policies that facilitate cycles of economic and physical violence in Black and Brown neighborhoods. The group also plans to push for public hearings, and eventually, enshrined policy changes that improve training and financial accountability.

The Action Center on Race & the Economy ( ACRE ) is a campaign hub for organizations working at the intersection of racial justice and Wall Street accountability.


This article shared 1001 times since Thu Jun 28, 2018
facebook twitter google +1 reddit email





Windy City Media Group does not approve or necessarily agree with the views posted below.
Please do not post letters to the editor here. Please also be civil in your dialogue.
If you need to be mean, just know that the longer you stay on this page, the more you help us.


  ARTICLES YOU MIGHT LIKE

Gay News

WORLD Honduran Congress, deportation, Canadian support, athlete comes out
2021-01-24
On Jan. 21, members of the Honduran Congress voted to amend the constitution, making it much harder to reverse existing hard-line bans on abortion and same-sex marriage, as lawmakers double down on socially conservative priorities, Openly ...


Gay News

COVID-19 Chicago, suburban restaurants slated to reopen Jan. 23
2021-01-23
Customers will be allowed back inside restaurants and many bars in Chicago and suburban Cook County beginning Saturday, Jan. 23, The Chicago Sun-Times reported. The city and Cook County will move from Tier 2 to Tier ...


Gay News

Alexi Giannoulias running for secretary of state in 2022
2021-01-21
Alexi Giannoulias—a Democratic politician and financier who was Illinois state treasurer during 2007-11—has thrown his hat back into the political ring, as he plans to run for Illinois secretary of state in 2022. He would succeed ...


Gay News

Planned Parenthood Illinois event to celebrate anniversary of Roe v. Wade ruling
2021-01-21
--From a press release - CHICAGO - Planned Parenthood Illinois Action (PPIA) and PPIA PAC celebrate the anniversary of the 1973 Supreme Court ruling at its Roe v. Wade Anniversary Event, to be held virtually on Thursday, January 28. The event ...


Gay News

Day 2 Executive Order prohibits discrimination against millions of LGBTQs
2021-01-21
--From a press release - Today, President Biden directed federal agencies to affirm that LGBTQ people are protected from discrimination under existing civil rights statutes. Biden is the first president to issue an Executive Order directly on LGBTQ rights on the ...


Gay News

Day 1 executive orders impact millions of LGBTQ youth, adults of diverse communities
2021-01-20
--From a Williams Institute press release - Today, President Biden signed a sweeping executive order directing federal agencies to adopt a comprehensive approach to advancing equity for all, including in federal employment, policies, programs, and services. This is the first day one executive ...


Gay News

Biden Orders Implementation of Ruling: LGBTQ discrimination is sex discrimination
2021-01-20
--From a press release - WASHINGTON, D.C. — Today on his first day in office shortly after being sworn in, President Biden issued an executive order directing all federal agencies to implement the decision in Bostock v. Clayton County issued by ...


Gay News

LETTER: Unnecessary legislation
2021-01-19
To the Editor: At a time when Illinois lawmakers should be supporting healthcare heroes who are working tirelessly during the COVID-19 pandemic, we instead receive unwelcome new legislation that will drive up the costs of practicing ...


Gay News

Groups sue to overturn Dept. of Ed regulation that forces funding of anti-LGBTQ groups
2021-01-19
--From a press release - Washington, D.C.—January 19, 2021—Today, the national civil rights organizations American Atheists and Americans United for Separation of Church and State, on behalf of the Secular Student Alliance and a California ...


Gay News

WORLD Global Fund, Croatian case, Poland items, Hillsong
2021-01-17
In 2020, the Global Fund signed 157 grants for a total of $8.54 billion for HIV, tuberculosis and malaria programs and to strengthen systems for health—and this is the highest number of grants the program ever ...


Gay News

NATIONAL Defamation case, inauguration items, PrEP, Capitol riot
2021-01-17
A New York appeals court ruled that falsely accusing someone of being gay is no longer considered defamation per se, NBC News reported. Defamation is a false statement that damages someone's reputation. "It meant that it ...


Gay News

Gov. Pritzker activates Illinois National Guard for security of state buildings
2021-01-15
SPRINGFIELD — Governor JB Pritzker has activated 250 members of the Illinois National Guard for State Active Duty in response to the warnings issued this week by the Federal Bureau of Investigation (FBI) regarding threats to ...


Gay News

1.2 million Black LGBT adults live in the US
2021-01-14
--From a press release by the Williams Institute at UCLA School of Law - A new study by the Williams Institute at UCLA School of Law finds that an estimated 1.2 million adults in the U.S. identify as Black and LGBT. Researchers found that Black LGBT people fare worse than ...


Gay News

Research on military trans ban shows urgency of Biden acting on pledge
2021-01-14
--From a press release by The Palm Center - President-elect Joseph Biden has promised to reverse the military's ban on service by transgender Americans on "day one" of his presidency. Research recently released by the Palm Center explains why lifting the ban is an urgent ...


Gay News

Trans woman, man killed in Chicago's Gresham area
2021-01-14
A transgender woman and a man were killed in a shooting Jan. 6 in Chicago's Gresham neighborhood, The Chicago Sun-Times reported. A gunman fired shots from a silver-colored vehicle about 5 a.m. in the 800 block ...


 



Copyright © 2021 Windy City Media Group. All rights reserved.
Reprint by permission only. PDFs for back issues are downloadable from
our online archives. Single copies of back issues in print form are
available for $4 per issue, older than one month for $6 if available,
by check to the mailing address listed below.

Return postage must accompany all manuscripts, drawings, and
photographs submitted if they are to be returned, and no
responsibility may be assumed for unsolicited materials.
All rights to letters, art and photos sent to Nightspots
(Chicago GLBT Nightlife News) and Windy City Times (a Chicago
Gay and Lesbian News and Feature Publication) will be treated
as unconditionally assigned for publication purposes and as such,
subject to editing and comment. The opinions expressed by the
columnists, cartoonists, letter writers, and commentators are
their own and do not necessarily reflect the position of Nightspots
(Chicago GLBT Nightlife News) and Windy City Times (a Chicago Gay,
Lesbian, Bisexual and Transegender News and Feature Publication).

The appearance of a name, image or photo of a person or group in
Nightspots (Chicago GLBT Nightlife News) and Windy City Times
(a Chicago Gay, Lesbian, Bisexual and Transgender News and Feature
Publication) does not indicate the sexual orientation of such
individuals or groups. While we encourage readers to support the
advertisers who make this newspaper possible, Nightspots (Chicago
GLBT Nightlife News) and Windy City Times (a Chicago Gay, Lesbian
News and Feature Publication) cannot accept responsibility for
any advertising claims or promotions.

 

 

 

TRENDINGBREAKINGPHOTOS







Sponsor
Sponsor


 



Donate


About WCMG      Contact Us      Online Front  Page      Windy City  Times      Nightspots      OUT! Guide     
Identity      BLACKlines      En La Vida      Archives      Advanced Search     
Windy City Queercast      Queercast Archives     
Press  Releases      Join WCMG  Email List      Email Blast      Blogs     
Upcoming Events      Todays Events      Ongoing Events      Bar Guide      Community Groups      In Memoriam      Outguide Categories      Outguide Advertisers      Search Outguide      Travel      Dining Out      Privacy Policy     

Windy City Media Group publishes Windy City Times,
The Bi-Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community.
5315 N. Clark St. #192, Chicago, IL 60640-2113 • PH (773) 871-7610 • FAX (773) 871-7609.