Mayor Daley Pleads With Alderman Burke : Don't punish Bank of America for moving to foreclose on Block 37

The Chicago Sun-Times reports:

Mayor Daley today called a halt to efforts by his lifelong rival, Ald. Edward M. Burke (14th), to use city business as a lever to punish Bank of America for moving to foreclose on downtown’s Block 37.

Daley has summoned Bank of America bosses to his City Hall office to explain the foreclosure lawsuit that threatens the development at State and Randolph and the city’s $65 million investment in it.

But the mayor said he’s not about to support efforts by Burke, chairman of the City Council’s Finance Committee, to punish Bank of America by freezing the bank out of city bond deals and investments.

“You’re not gonna threaten — you can’t threaten banks. You can’t start threatening people,” Daley said at an unrelated news conference.

“You have three other banks there. You have to get all the facts before you start threatening anyone. There’s an issue there [but], let’s get all the facts before you start threatening anyone.”

Burke could not be reached for comment.

Last week, he told the Chicago Sun-Times, “One might question the wisdom of using Bank of America on a future bond deal, given the circumstances.”

Just think, Bank of America has go into the Cook County court system where Alderman Burke slates all the judges! For more on the man really in charge of Chicago. For more on the disturbing, recent, history of Chicago.