Comments on: AIG Collapse Leaves Transit Agencies in the Lurch http://www.streetsblog.org/2008/10/29/aig-collapse-leaves-transit-agencies-in-the-lurch/ Covering the New York City Streets Renaissance Mon, 23 Nov 2009 05:31:30 -0500 http://wordpress.org/?v=2.8 hourly 1 By: Larry Littlefield http://www.streetsblog.org/2008/10/29/aig-collapse-leaves-transit-agencies-in-the-lurch/comment-page-1/#comment-58251 Larry Littlefield Thu, 30 Oct 2008 13:15:14 +0000 http://www.streetsblog.org/?p=4851#comment-58251 The New York Governor has proposed leasing state assets, with upfront payments, as a way to balance the budget. After all, it's "free" money. As long as the devastation doesn't happen until after his re-election. The New York Governor has proposed leasing state assets, with upfront payments, as a way to balance the budget. After all, it's "free" money. As long as the devastation doesn't happen until after his re-election.

]]> By: jannewyork http://www.streetsblog.org/2008/10/29/aig-collapse-leaves-transit-agencies-in-the-lurch/comment-page-1/#comment-58216 jannewyork Wed, 29 Oct 2008 22:10:32 +0000 http://www.streetsblog.org/?p=4851#comment-58216 Now we see why the AIG bailout was championed by the New York governor. Now we see why the AIG bailout was championed by the New York governor.

]]> By: Larry Littlefield http://www.streetsblog.org/2008/10/29/aig-collapse-leaves-transit-agencies-in-the-lurch/comment-page-1/#comment-58199 Larry Littlefield Wed, 29 Oct 2008 17:52:03 +0000 http://www.streetsblog.org/?p=4851#comment-58199 One thing the posted summary doesn't mention -- the transit agencies got up front cash as a part of these deals, cash that they have already spent. The disaster would happen in an unspecified future no one cared about. Look under any rock, and you see the same priorities over and over again -- the war against younger generations and the future. "The timing couldn't be any worse," said state Transportation Commissioner Kris Kolluri. "It would add such a dramatic burden on the transit agency you would need drastic service cuts or the curtailing of the capital program." When did New Jersey plan for the deals to fall apart? In a financial boom? Of course the reverse is when everything they did is falling apart. BTW, Bloomberg and Giuliani once proposed similar deals with the entire NYC water system, which someone else would then have owned. Just a little suggestion -- BANKRUPTCY. We have no obligations here. Let the rich, who hold the financial IOUs, try to collect from the polticians, the senior citizens, the political class. Leave us serfs alone. One thing the posted summary doesn't mention -- the transit agencies got up front cash as a part of these deals, cash that they have already spent.

The disaster would happen in an unspecified future no one cared about. Look under any rock, and you see the same priorities over and over again -- the war against younger generations and the future.

"The timing couldn't be any worse," said state Transportation Commissioner Kris Kolluri. "It would add such a dramatic burden on the transit agency you would need drastic service cuts or the curtailing of the capital program."

When did New Jersey plan for the deals to fall apart? In a financial boom? Of course the reverse is when everything they did is falling apart.

BTW, Bloomberg and Giuliani once proposed similar deals with the entire NYC water system, which someone else would then have owned.

Just a little suggestion -- BANKRUPTCY. We have no obligations here. Let the rich, who hold the financial IOUs, try to collect from the polticians, the senior citizens, the political class. Leave us serfs alone.

]]> By: Mark Walker http://www.streetsblog.org/2008/10/29/aig-collapse-leaves-transit-agencies-in-the-lurch/comment-page-1/#comment-58198 Mark Walker Wed, 29 Oct 2008 17:39:02 +0000 http://www.streetsblog.org/?p=4851#comment-58198 The next president would be wise to devote bailout cash to keeping transit systems running -- as opposed to shoveling it into the gaping maws of the auto makers. People who drive have the option of keeping their existing cars running for a few more years. A transit user faced with service cuts can't adapt as easily. And there will be more transit users -- and fewer drivers -- over time. So maintaining service levels and protecting capital programs would be a better investment than propping up car makers. The next president would be wise to devote bailout cash to keeping transit systems running -- as opposed to shoveling it into the gaping maws of the auto makers. People who drive have the option of keeping their existing cars running for a few more years. A transit user faced with service cuts can't adapt as easily. And there will be more transit users -- and fewer drivers -- over time. So maintaining service levels and protecting capital programs would be a better investment than propping up car makers.

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