For the last three years, Mayor Daley’s nephew Robert G. Vanecko has been a frequent figure in the news.
First, when the Chicago Sun-Times revealed that five city pension funds gave him $68 million to investment in risky real estate deals.
Later, when a federal grand jury began investigating.
Now, Vanecko’s real estate deals are falling apart, records show, potentially jeopardizing the money he got from the pension funds representing Chicago’s police officers, teachers, city employees and CTA workers.
When the Crime Syndicate “borrowed” money from union pensions for “investments” in Las Vegas and other areas, it was considered a crime. When relatives and friends of the mayor “borrow” money from pension funds for real estate development it is just good business. Business as usual. This scheme is just another example of the Friends and Family Plan- friends and family of Democrats get access to public pension fund money for profit.
Unfortunately, the various public employee unions stand to lose their “investment” in Vanecko’s schemes and scams. This lost money will have to be made up somehow. Guess who may get left holding the bag? The taxpayers. It just proves that Chicago is a thoroughly corrupt city.
When is enough enough? How much longer are we to tolerate these nefarious deals? When are the people in this city going to finally demand change? The Democratic Party in Chicago is nothing more than a quasi criminal enterprise to enrich the connected- the Friends and Family Plan.