Cook County Reportedly Pursuing a Loan
Cook County Board President John Stroger's office denies reports the county is pursuing a $200 million loan.
Crain's Chicago Business reports the county recently talked to a major Chicago bank about securing a short-term loan to cover a looming cash shortage.
That drew a flat denial from Stroger's office, but Commissioner Mike Quigley isn't convinced.
He says he's fairly confident the county is looking into the loan -- and he will raise the issue at Wednesday's board meeting.
"The longer that someone tells you that there might be a problem, the less time you have to react, the less time it gives you to rationally think about a solution," he says. "Short-term, panicked, brinksmanship decision-making never works well."
Stroger's office says it's too soon to know whether the county would be able to stick to its $3.1 billion budget.
Two other commissioners say months ago they were skeptical of Stroger's revenue projections included in the budget.