Chicago Parking Meter Disaster 🤯 #shorts

Do you know about Chicago’s parking meter disaster?

When the 2008 financial crisis started, Chicago mayor Richard Daley decided to sell the rights to the cities 36,000 meters for only 1.17 billion dollars.

What might sound like a smart decision to gather much-needed funds in a desperate situation, turned into one of the worst deals in history.

After all the group of private investors who bought the rights quickly raised rates and made their money back in just 15 years.

Feels like the start of another capitalist cycle where the rich continue to get even richer at our expense. Doesn’t it?

#shorts #Chicago #capitalism #business #parking