Windy City Media Group Frontpage News
Celebrating 30 Years of Gay Lesbian Bisexual and Trans News
home search facebook twitter join
Gay News Sponsor Windy City Times 2018-09-19
DOWNLOAD ISSUE
About WCMG Publications News Index  Entertainment Features Bars & Clubs Calendar Videos Advertisers OUT! Guide    Marriage

Sponsor
Sponsor
Sponsor

  WINDY CITY TIMES

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

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.


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

Cardinal Cupich removes priest from Resurrection parish who burned rainbow flag 2018-09-22 - Cardinal Cupich announced, via a letter, during the Saturday, Sept. 22 4:30 p.m. Mass at Resurrection Catholic Church ( 3043 N. Francisco Ave. ...


Gay News

Peaceful assembly protests Rainbow flag burning at Resurrection Catholic Church 2018-09-20 - Ald. Deb Mell ( 33rd Ward ) organized a peaceful assembly Sept. 19 outside Resurrection Catholic Church, 3043 N. Francisco Ave., in response ...


Gay News

Court Rules Wisc. State Employee Health Insurance Must Cover Transgender Workers 2018-09-19 - A federal court found that denying health insurance for gender-affirming medical care violates the Constitution and federal non-discrimination law. The federal lawsuit ...


Gay News

State Dept Cannot Rely on Binary-Only Gender Policy to Deny Passport 2018-09-19 - ( Denver, CO, September 19, 2018 ) — A U.S. District Court Judge today ruled that the U.S. State Department exceeded its authority ...


Gay News

Chicago priest, parishioners burn Rainbow flag in defiance of Archdiocese orders 2018-09-19 - In defiance of a Chicago Archdiocese order, Resurrection Catholic Church Pastor Fr. Paul Kalchik and a number of parishioners cut up and burned ...


Gay News

Crime and Punishment 2018-09-19 - Playwright: Chris Hannan, adapted from Dostoevsky At: Shattered Globe Theatre at Theater Wit, 1229 W. Belmont Ave. Tickets: 773-975-8150; ShatteredGlobe.org; $39. Runs through: ...


Gay News

U.S. District Court Denies Move to End Injunction Blocking Transgender Military Ban 2018-09-19 - RIVERSIDE, Calif. — The U.S. District Court for the Central District of California rejected the Trump-Pence Administration's latest attempt to implement its discriminatory ...


Gay News

WORLD Cuban president, trans athlete, Trinidad and Tobago, Dua Lipa 2018-09-19 - Cuban President Miguel Diaz-Canel has backed same-sex marriage, BBC.com reported. The Cuban leader, who took over from Raul Castro in April, said he ...


Gay News

HRC calls for halt to Supreme Court confirmation process 2018-09-16 - WASHINGTON — Today, the Human Rights Campaign ( HRC ) called for the Senate Judiciary Committee to halt the Supreme Court confirmation process ...


Gay News

Court Rules Case Challenging Defense Dept. HIV Discrimination Can Proceed 2018-09-14 - ( Alexandria, VA September 14, 2018 ) — Today, a Virginia federal court ruled a case filed by Lambda Legal and OutServe-SLDN, along ...


 



Copyright © 2018 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
Sponsor


 



Sponsor

About WCMG Publications News Index  Entertainment Features Bars & Clubs Calendar Videos Advertisers OUT! Guide    Marriage


About WCMG      Contact Us      Online Front  Page      Windy City  Times      Nightspots      OUT! Guide     
Identity      BLACKlines      En La Vida      Archives      Subscriptions      Distribution      Windy City Queercast     
Queercast Archives      Advertising  Rates      Deadlines      Advanced Search     
Press  Releases      Event Photos      Join WCMG  Email List      Email Blast     
Upcoming Events      Todays Events      Ongoing Events      Post an Event      Bar Guide      Community Groups      In Memoriam      Outguide Categories      Outguide Advertisers      Search Outguide      Travel      Dining Out      Blogs      Spotlight  Video     
Classifieds      Real Estate      Place a  Classified     

Windy City Media Group produces Windy City Queercast, & publishes Windy City Times,
The Weekly Voice of the Gay, Lesbian, Bisexual and Trans Community,
Nightspots, Out! Resource Guide, and Identity.
5315 N. Clark St. #192, Chicago, IL 60640-2113 • PH (773) 871-7610 • FAX (773) 871-7609.