Re: A VERY Lost A Train! (1285650) | |||
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Re: A VERY Lost A Train! |
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Posted by SelkirkTMO on Sun Apr 13 23:18:15 2014, in response to Re: A VERY Lost A Train!, posted by Train Dude on Sun Apr 13 22:16:20 2014. That was the SECOND go-round in the 80's when that scheme came back with DIRECT purchase by the banks. The PREVIOUS one was tied to the MTA's founding because of the absorption of TBTA tolls as the funding mechanism to back up the original bonds. They came up short and so the bonding for the purchases were acquired by Chase and several other banks who required payments from TBTA directly.Went looking for any details on it and of course since no internet then, any print copies of the reports aren't coming up. There were all SORTS of fiscal shens played out by Rockefeller until he left office, and when he left, suddenly everybody wanted their money and the city ended up going broke as a result. I'll see if I can find some of those old reports, wouldn't know how the game was played in the 80's, I was long gone by then. In the 60's, three card monty was the way of political financing as long as Rockefeller was there. SO here ... because I can't find it right now, you win this one. |