Cautionary Tales with Tim Harford The City That Sold Itself To Wall Street
21 snips
Sep 1, 2023 
Henry Grabar, author of "Paved Paradise," dives into the fallout from Chicago's 2008 parking meter lease to Wall Street that left residents facing rising fees and lost access. He explores the emotional connection people have to parking, the broader implications of privatizing public services, and how outdated regulations shape urban life. Grabar also discusses the hidden costs of excessive parking requirements on housing and advocates for flexible urban planning that prioritizes livability and community needs.
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The Alderman and the Alley
- Chicago alderman Scott Waguespack discovered discarded paperwork about the city's parking meter deal.
- This revealed the Emir of Abu Dhabi as a key investor, raising questions about the deal's fairness.
Parking Lot Brawl
- In Chicago, two elderly men, Abe (82) and Joseph (80), got into a physical altercation over a parking space.
- This highlights the intense emotions surrounding parking in the city.
Rushed Decision
- Chicago aldermen felt rushed into approving the parking meter deal, despite the city's year-long preparation.
- Waguespack's attempts to question the deal were dismissed by city officials.
