There's 75% of the Pension Money
- Imagine a scenario where you bury a lot of your hard earned money in the yard, and never see it again. Better yet, imagine giving that money to someone else, who buries it with promises of big returns which never happen.
You’ve already done it.
The site is deep below Chicago’s famous Block 37 between State and Dearborn at Randolph. A decade ago, the Chicago Transit Authority wanted to launch non-stop train service from the Loop to O’Hare and Midway airports. But the closest the service came to reality was the shell of a mass transit "superstation" below Block 37 between the Red and Blue subway lines. The project was shelved, amid mounting costs and questions about funding and the very feasibility of the concept.
Not only that, the city refinanced the original 12-year bonds for another 12 years. The city ain't broke by a long shot if they can float these sorts of deals for their friends and bankers.
Labels: money questions