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Chicago City Wire

Saturday, April 27, 2024

Chicago investor: Illinois Democratic machine is root of all corruption

Carter

Chicago investor Jeffrey Carter. | West Loop Ventures

Chicago investor Jeffrey Carter. | West Loop Ventures

Gov. J.B. Pritzker has been flush with power and success since he was elected governor in 2018. But according to a number of critics, he is sitting on an uneasy throne with a federal investigation of a $330,000 break on property taxes he received for his stately mansion on the Gold Coast. 

The tax reduction was reportedly based on toilets that were unhooked as a remodeling project was put on hold. Pritzker paid the $330,000 as the campaign came to a close.

The Chicago Sun-Times reported that the U.S. Attorney’s Office in Chicago seeks records of communications between Pritzker and the Cook County Assessor’s Office dating back to 2012. Joseph Berrios, the former assessor known for giving preferential treatment to those he favored, was in the office currently held by Fritz Kaegi.

To many longtime Chicago residents, this case stinks of corruption.

“Illinois has been one of the most corrupt states politically for years,” Chicago investor and businessman Jeffrey Carter told Chicago City Wire. “This just illustrates that point. The Illinois Democratic machine is the root of all the corruption.”

A culture of corruption and insider deals has been a fact of Chicago life for decades. Locals joke about it, reporters constantly uncover it, and books, movies and TV shows have used this tawdry tradition as fodder for countless stories.

“It has existed since Chicago was founded in 1830,” Carter said. “However, the first Mayor [Richard J.] Daley institutionalized it.”

Daley, mayor from 1955 until his death Dec. 20, 1976, was known as “Boss” Daley for his autocratic style of leadership. A Sept. 24, 2009, Washington Post column by Chris Cillizza summarized how Chicago operated under his rule.

“Daley was never convicted on any sort of corruption charges but his willingness to use the massive patronage system afforded to the mayor and to tolerate public graft among many of his associates — many of whom were charged with public corruption during his time in office — amounted to a tacit acceptance of the status quo.

“So ingrained was that graft within the cogs of city government, Mike Royko, the legendary Chicago reporter and Daley biographer, wryly suggested that the most appropriate motto for the city was ‘Where's mine?’”

Carter said this might well be just the tip of a massive iceberg of corruption.

“I am glad they are investigating,” he said. “How many more people like Pritzker get special deals?”

Carter has blunt advice for Pritzker if the allegations are proven correct, noting, “Resign if he or his wife did it. Be transparent."  

When will voters say enough? Carter said it will take a new mindset, a different way of viewing Illinois politics and government.

“There are true believers in Illinois that actually think big government, socialism, Marxism, work,” he said. “Voters that rely on patronage for their sustenance are part of the problem. Other voters prioritize things like abortion over corruption.”

Carter is the co-founder of the venture capital firm Hyde Park Angels and the financial technology startup company West Loop Ventures. In addition to his business enterprises, he regularly writes about a variety of issues as well as his personal life on his blog Points and Figures.

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