Source: By James B. Kelleher James B. Kelleher, Reuters,Thu Mar 19, 8:43 pm
ET
As they struggle to close ballooning
budget deficits amid the worst financial crisis since the Great Depression, many
U.S. state and local
governments will be tempted to follow the example of Chicago. The
third-largest U.S. city has raised billions of
dollars in recent years turning public assets over to private businesses that
then run them as for-profit enterprises.
...... "The devil is in the details -- as
future generations to come will learn," said Pat Andrews, editor of Alltolled.com, a
Web site dedicated to preventing more highway privatizations in the state of
Indiana, another pioneer of such transactions.
......... Elliot Sclar, a professor at
Columbia University in New York, sees the P3s as just the latest
product Wall Street bankers have dreamt up to make a buck - and one taxpayers
will pay to clean up. ........
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