Oct 6, 2008
Chicago’s Mayor Daley wants to lease Midway Airport to Citibank and its associated companies for 99 years, giving it the right to collect all revenue, while the city pays off all the airport debts.
The mayor said, “As the first privatization of a major American airport, this transaction will provide unprecedented benefits for the traveling public, the airlines and the taxpayers of Chicago.”
Benefits? The only benefits go to Citibank, which is in the midst of a giant crisis that it helped cause. This deal is not unprecedented. It’s just one more government bailout!