Chicago’s Great Parking Heist
This is an absolutely extraordinary story out of Chicago — the open theft of hundreds of millions of dollars, possibly more, in broad daylight (ref).
LA Streetsblog covers the story uncritically.
75 years. Everyone who did the deal with be dead, rich, or both by the time this deal expires. And it’s the taxpayers who will bear the burden, as usual.
Mayor Daley needs to go to jail stat. I know Fitzchristmas has to have something on that dude.
For a little light reading on why we shouldn’t go all Reason Foundation on our public infrastructure - other than the fact that it is plainly immoral - read ‘The Highwaymen’ from Mother Jones - it’s all the same concept (wiki).
[Image: Flickr / crowbert]
…72 Hours for 75 Years. The ‘Teflon Mayor‘. Morgan Stanley self-deals, gets a piece of the loot. I’m assuming private roads and parking spots and bridges will have to be maintained by those private profiteering corporations, and not the taxpayers — i.e. no bailout funds should go to these private, for-profit, eternal corporations.
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