How Chicago Got Fleeced Selling Its Parking Meters for 75 Years

Opublikowano: 2026-07-25

Today I explore one of the most controversial public finance decisions in modern American history: Chicago's 75-year parking meter lease. During the 2008 financial crisis, Chicago leased all 36,000 parking meters to a Morgan Stanley-led investment group for $1.15 billion. What seemed like a quick solution to a budget crisis has since become one of the most debated examples of government privatization, public infrastructure leasing, and municipal finance in the United States. How did the deal happen? Why did city leaders approve it so quickly? Who owns the parking meters today—including the Abu Dhabi Investment Authority? And wh...