The beatings will continue until all not-yet-right-thinking lefties support infrastructure bank scam

[rfranklin]

Stuart Zechman: The beatings will continue until all not-right-thinking lefties support the infrastructure bank scam

The essence of the American Infrastructure Financing Authority is to use the full faith and credit of the U.S. government to loan funds at below-market rates to public-private partnerships — in other words, to privatize the cash flows from public assets
There is no question that private money is interested in being used for loans to infrastructure projects and guaranteed by the federal government and taxpayers. It’s almost identical to senior bondholders who loaned money to too-big-to-fail banks. It’s the best setup for private money because there is no loss....

So what are you un-pragmatic leftists demanding, anyway? Not to have the citizenry held hostage by the self-interested demands of money-center banks ever again? That’s crazy old 1930′s talk!

See, the National Infrastructure Bank proposal firmly, yet thoughtfully rejects old, liberal orthodoxies about ordinary people not having to rely on giant, corrupt, unaccountable market actors for almost everything of importance in their daily lives, and falls squarely within the 1990s Democratic program to “modernize” the government (and the population) to cope with the realities of the 21st century, global economy!

-more-

http://www.nakedcapitalism.com/2011/10/stuart-zechman-the-beatings-will-continue-until-all-not-yet-right-thinking-lefties-support-the-infrastructure-bank-scam.html

[xchrom]

1. Recommend

[PETRUS]

2. So many handouts

to private, for profit-interests. Yet it's people like the OWS protestors who are described as freeloaders. Don't be bamboozled. We should demand better and hold our leaders accountable.

K&R