Posted 4 years ago on Sept. 2, 2017, 10:18 a.m. EST by agkaiser
from Fredericksburg, TX
This content is user submitted and not an official statement
Any fool should be able to see that putting more pigs at the trough is going to cost more, especially when the swine breed prolifically but are never harvested. They eat and eat but are never eaten. The privatization contracts that conservatives and neo liberals love exempt our porcine masters (on Wall Streets around the globe) from any loss or penalty for bad performance or malfeasance. They make feudal barons look like saints. But they all think they're the good guys.
Traitor slavers, nazis and fascists all fervently believe they are the good guys. Argument will never change their minds about their good and our evil. In the end it's about whose side you are on.
"... if and when the private toll road or tunnel partner goes bankrupt, taxpayers are forced to pay off the bonds while absorbing all loans the state and federal governments gave the private shell company and any accumulated depreciation. Yet the shell company's parent firms get to keep years of actual toll income, on top of millions in design-build cost overruns….
"Of course, no executive comes forward and says, "We're planning to go bankrupt," but an analysis of the data is shocking. There do not appear to be any American private toll firms still in operation under the same management 15 years after construction closed. The original toll firms seem consistently to have gone bankrupt or "zeroed their assets" and walked away, leaving taxpayers a highway now needing repair and having to pay off the bonds and absorb the loans and the depreciation.
"The list of bankrupt firms is staggering, from Virginia's Pocahontas Parkway to Presidio Parkway in San Francisco to Canada's "Sea to Sky Highway" to Orange County's Riverside Freeway to Detroit's Windsor Tunnel to Brisbane, Australia's Airport Link to South Carolina's Connector 2000 to San Diego's South Bay Expressway to Austin's Cintra SH 130 to a couple dozen other toll facilities...."