Rahm: “Speaker Madigan believes firmly in his principles and believes firmly in fighting for those principles.” Comment: Gotta start wondering if Rahm has lost his political judgement. Not good for anybody.

And don’t overlook this gem in the story: “The senior managing underwriter on the $1.1 billion borrowing with an estimated $2.64 million in fees is Morgan Stanley. The company’s affidavit was signed by William Daley Jr., whose uncle is the former mayor and whose father and namesake replaced Rahm Emanuel as White House chief of staff.”

Democrats are chiseling a defeat that will be part of Obama’s presidential legacy. But even more than that, they’re cowering from competition. And we will pay a price for that.

City Hall insiders have been whispering about the possibility of paying just $200 million of required $634 million payment to the Chicago Teachers’ Pension Fund, due on June 30.

When CME Group begins dismantling more than half of its 35 trading pits on July 2, it will be a major step toward extinguishing a form of commerce that established Chicago as the financial center of the Midwest and helped define the city in popular culture as a place where savvy operators could make their fortunes.

Chicago’s downtown population boom has received a lot of attention, but it’s exceeded by the slower, steadier growth on the city’s quiet far southwest side.