As I've said before, privatization deals and public-private partnerships and their ilk are just ways to permit existing entities or people to steal even more money from the taxpayers and the vital funding of public services. I really hope no one is really surprised by this. The real problem is that a large percentage of the population either believes this nonsense will provide positive benefits to the city or they know that it will provide positive benefits to them individually. The rest of us just get steamrolled and told that we just don't understand.
Cato is right, if this consortium would take over the costs of the stadium, etc. so that we could retire the bonds, I would be all for this. But, at its best, all privatization does is add a layer of incompetent management between the existing public management and the poorly delivered service.
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