Emanuel Would Need to Explain $17 Million Bank Pay

Emanuel, 50, earned at least $17 million in three years as an investment banker after leaving the Clinton White House, public records show.

leaving the White House in 1998, Emanuel went to work for one of Clinton’s top fundraisers, the late Bruce Wasserstein. Emanuel tapped the contacts he made in government to close deals while working in the Chicago office of Wasserstein Perella & Co.

Merger Layoffs

Emanuel’s largest transaction came about a year after he left the White House when he represented Unicom, the former corporate parent of what was Commonwealth Edison, in an $8.2 billion merger with Pennsylvania-based Peco Energy Co. The merger, completed the year after Daley criticized ComEd for service problems, created Chicago-based Exelon Corp.,

 

Click on the following for more details:    Emanuel Would Need to Explain $17 Million Bank Pay - Yahoo! Finance

Whitney Says States May Need Federal Bailout in Next 12 Months - Bloomberg

The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.’s dividend cut in 2008.

state and local issuers have taken on too much debt and that the gap between public spending and revenue is unsustainable.

Whitney said took two years to complete and hasn’t been released publicly, ranks California’s finances the worst, with New Jersey, Illinois and Ohio tied for second-worst

May, Buffett, whose Berkshire Hathaway Inc. owns and insures municipal debt, told shareholders at the company’s annual meeting that the federal government would likely bail out a state that faced financial distress.

Click on the following for more details:  Whitney Says States May Need Federal Bailout in Next 12 Months - Bloomberg

Poll: Quinn gains ground on Brady

 

Chicago Tribune/WGN-TV poll of 600 registered voters shows Quinn with the support of 39 percent of those questioned, while 38 percent prefer Brady. The poll has an error margin of 4 percentage points, which means the candidates are in a virtual tie.

Click on the following for more details:  Daily Herald | Poll: Quinn gains ground on Brady