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The Great Chicago Meter Heist
Manage episode 460771682 series 3264489
In 2008, Chicago made a deal that would shape its streets—and its finances—for decades. The city sold the rights to 36,000 parking meters to private investors for a whopping $1.157 billion. But was it a savvy move to plug a budget gap during the Great Recession, or a colossal mistake?
💰 A $2 billion asset sold for half its worth?
📈 Skyrocketing parking fees and financial handcuffs for the city.
🇦🇪 And the surprising global investors pulling the strings.
Join us as we dig into the 75-year contract some say “sold the streets themselves” and uncover what went wrong—and what Chicago regrets to this day.
Subscribe now to get the full story.
64 episodi
Manage episode 460771682 series 3264489
In 2008, Chicago made a deal that would shape its streets—and its finances—for decades. The city sold the rights to 36,000 parking meters to private investors for a whopping $1.157 billion. But was it a savvy move to plug a budget gap during the Great Recession, or a colossal mistake?
💰 A $2 billion asset sold for half its worth?
📈 Skyrocketing parking fees and financial handcuffs for the city.
🇦🇪 And the surprising global investors pulling the strings.
Join us as we dig into the 75-year contract some say “sold the streets themselves” and uncover what went wrong—and what Chicago regrets to this day.
Subscribe now to get the full story.
64 episodi
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