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― Mark Twain
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Political Backdrop Will Only Get Worse
Chicago City Treasurer Melissa Conyears-Ervin sparked major controversy Wednesday by announcing that her office will stop investing in U.S. Treasury bonds from the city’s $10 billion portfolio, calling it a protest against what she described as the “authoritarian regime” of President Donald Trump.
Conyears-Ervin, currently running for Congress, said the city which held over $200 million in Treasury securities would now pursue other investment options offering similar returns.
Her declaration drew sharp backlash from City Council members. Ald. Ray Lopez accused her of disinvesting from the United States and called the move “reckless.” Ald. Anthony Napolitano said he was “appalled” and walked out of the chamber, while Ald. Nick Sposato and Ald. Bill Conway also criticized the decision, with Conway warning that U.S. Treasuries are among “the most secure debt instruments in the world.”
Conyears-Ervin defended her stance as a “bold statement” reflecting Chicago’s values, insisting that the city’s investments would remain safe and profitable despite the boycott.
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