Education

Teachers Unions Aim To Demonize Banks That Have Lent School Districts Money After Blowing $100 Million On Midterms

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).

Various teachers union honchos are also tossing around phrases such as “predatory lending schemes” and accusing “Wall Street banks” of “rigging the game in their favor.”

“The banks owe us a rebate of hundreds of millions of dollars, which we should invest in 50 sustainable community schools with robust wraparound services, restorative justice programs, low class sizes and sufficient staffing levels,” complained Jesse Sharkey, acting president of the Chicago Teachers Union.

This latest AFT gambit comes after the union wasted millions of dollars on losing Democratic candidates in this month’s midterm elections. (RELATED: Teachers Union Demands Free College For Teachers After Blowing $100 Million On Midterms)

Union leaders are now doing what teachers unions do very best: They are planning marches that will occur during the taxpayer-funded school day.

A “day of action” is scheduled for Nov. 20 in at least 15 cities. Union leaders expect thousands of demonstrators to show up nationwide. The assembled participants will rally against Wall Street financiers. Union supporters will also rally against charter schools that compete with public schools. And, of course, they’ll call for more tax money to be lavished on union-supported objectives.

A separate, somewhat mysterious press release from no organization in particular — also sent to The Daily Caller — offered quotes from union-supporting parents.

“ALL our children deserve smaller classes, a discipline policy that helps kids, doesn’t just push them out, and ethnic studies,” said parent Martha Sanchez. “Our kids and families and teachers deserve great, fully funded, public schools in every neighborhood.”

Sanchez also swore that she has sent her children to both public schools and charter schools.

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