“When it comes to finding a figure for the citizens of Chicago, they say the meters are worth $1.16 billion,” Waguespack said shortly after the deal. “But when it comes to finding a figure to cover Morgan Stanley, they say they’re worth, what, $5 billion? Who are they looking out for, the residents or Morgan Stanley?” The city inspector at the time, David Hoffman, subsequently did a study of the meter deal and concluded that Daley sold the meters for at least $974 million too little. “The city failed to make a calculation of what the value of the parking meter system was to the city,” Hoffman
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