Teachers Unions Aim To Demonize Banks That Have Lent School Districts Money

A heavily union-funded organization called The Alliance to Reform Our Schools has mounted a campaign to vilify financial institutions that have lent money to public school districts and local governments around the country.

The American Federation of Teachers is using the term “toxic deals” to describe transactions involving school districts that received huge sums of money in exchange for promises to repay that money with interest and fees.

“These deals are robbing schools and kids of desperately needed resources at a time when budgets have been cut to the bone and our schools are already being asked to do more with less,” AFT president Randi Weingarten proclaimed in a press release the union sent to The Daily Caller.

Possibly unaware that creditors and debtors have a vested interest in painstakingly recording the terms of large financial arrangements, Weingarten demanded “basic transparency and accountability” from creditors and from school officials.

“Putting this money back into the classroom could mean more teachers, nurses and social workers; restoring art and music; creating community schools; and wrapping services for kids and families around schools,” Weingarten lectured.

The AFT is blaming unnamed financial institutions for the truly terrible bets made by school district officials in a host of cities including Los Angeles, Chicago, Detroit and Philadelphia (which faces a $161 million loss).

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