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Would Bill Daley Be Governor 1 Percent?

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Would Bill Daley Be Governor 1%?

Here in Chicago, we already have Mayor 1% -- Rahm Emanuel, who has a net worth of $18 million and is showered with campaign contributions from his fellow plutocrats.

Would Bill Daley be Governor 1%?
 
Bloomberg has a story on the wealth and connections of Daley. Like Emanuel, Daley made a fortune in banking, as Midwest chairman of JP Morgan Chase. Daley has received $5,300 in contributions from seven members of the Pritzker family: David, Matthew, Jason, J.B., Marian, MK and Gigi. That’s a lot of Hyatt hotel money. Daley also received $5,300 each from Lou and Marjorie Susman. A prominent Democratic donor who was managing director and vice chairman of Citigroup Corporate and Investment Banking, Susman spent four years as ambassador to the United Kingdom, a traditional reward for prolific fundraisers.
 
Here’s Bloomberg’s rundown on Daley’s wealth:
 
Daley, 64, Obama’s second White House chief of staff after Emanuel, held investments including stocks and cash accounts worth between $7.3 million and $49.7 million, according to a federal disclosure report released by the White House in 2011. The disclosure gives values only in broad ranges, making it impossible to determine exact figures for some holdings.

The document shows Daley received $8.7 million in salary and stock and cash bonuses in 2010 and the first week of 2011 while working at JPMorgan Chase & Co. (JPM), where he was Midwest chairman and head of corporate responsibility before becoming Obama’s top aide in January 2011. Daley left the White House after almost exactly one year in the chief of staff job.

After joining JPMorgan in 2004, Daley’s role there grew to include membership on the operating committee and as an adviser to Chief Executive Officer Jamie Dimon. His wealth also grew, helping him purchase a $2.6 million condominium in 2010 on Chicago’s Lake Shore Drive.
 
Gov. Pat Quinn is already mocking his primary opponent as a rich man’s candidate, saying “I fight hard for folks who don’t have lobbyists, who don’t have political action committees, who aren’t in high places. I’m quite a bit different from Bill Daley. He has a better tailor than I do.” 
 
Quinn’s brick house, in the Montclare neighborhood on Chicago’s West Side, has an estimated market value of $204,740, according to the Cook County Assessor’s Office. However, Quinn has also received $5,300 donations from wealthy supporters, although most seem to be attorneys rather than bankers: William Fahey, Kevin Durkin and John Cooney.

Related Topics Pat Quinn
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