The Chicago Teachers Union are taking their fight against punitive cuts, school closures and job losses in the city to one of the main culprits today: the banking sector. Teachers and their supporters will be staging a protest outside the Bank Of America.

The union says that the bank has made $77 million profit from credit swaps with the school district and that it should be fighting the banks to recover the money which belongs to Chicago students and communities instead of fighting Chicago teachers. The CTU closed its account with Bank of America yesterday and called on others to do the same. 

According to the only 18% of voters approve of Mayor Rahm Emmanuel's handling of education while a massive 70% disapprove. On the other hand 62% support the stance of the CTU. The Chicago Public Schools board is proposing $100 million cuts, which CTU leader Karen Lewis characterised as an 'act of war' on Monday. Teachers have already voted overwhelmingly for a strike if a fair contract is not negotiated.

As one voter put it: 'I feel that right now, too many schools are being dealt crap budgets. If you've got crap to work with, then your results are going to be crap. There's no way you're making me filet mignon if you're using two eggs and a bag of lettuce.' This comment colourfully sums up the bind in which teachers globally find themselves, suffering more and more punitive measures over standardised outcomes, while their budgets are continually cut. 

Chicago teachers and their communities inspired fighters for public education all over the world in 2012, it looks as though they are preparing to inspire us again.