Braun says Chicago 'snookered' in meter deal

Chicago mayoral candidate Carol Moseley Braun says the deal that privatized parking meters is a financial disaster for the city, and she says she'll try to break it if elected.

At a Monday news conference the former U.S. Senator said she thinks the city got "snookered" when it entered the 2008 deal in which a private company paid the city more than $1.1 billion in exchange for a 75-year lease of the meters.

The deal led by outgoing Mayor Richard Daley has been widely criticized — in large part because the city has already spent all but a fraction of the money.

Braun says she'd sue to cancel the deal. She didn't say Daley's name but said the administration exceeded its authority in making the deal.