The Chicago Sun-Times reports:
By filing to foreclose on downtown's Block 37 construction site, Bank of America Corp. has irritated one of the project's principal partners -- the City of Chicago.
And the city isn't your average customer mad at a bank. It has pledged $65 million in subsidies to Block 37, which is between the Daley Center and Macy's State Street flagship.
The man
running things in Chicago has issued a warning according to the Sun-Times:
On Thursday, an influential alderman said he is considering whether to bar Bank of America from advising the city on bond issues. "One might question the wisdom of using Bank of America on a future bond deal, given the circumstances," said Ald. Edward Burke (14th), chairman of the City Council's Finance Committee. The panel approves underwriters of city bonds.
Guess who slated the judge hearing the foreclosure lawsuit? You get one
guess.
