Tuesday, October 14, 2008

The Chicago Way: Bank of Chicago alderman's nephew lends millions to his wife, other relatives and his legal clients

The Chicago Sun-Times reports on The Chicago Way:
For years, James J. Banks, a nephew of Chicago's powerful Ald. William Banks (36th), has been the attorney of choice for developers who need the city's OK to knock down homes and small businesses and replace them with three- and four-story condo buildings.

Now, he's their money man of choice, too, financing projects through his 2-year-old bank.
Some people really make money off of zoning connections.