Wednesday, November 19, 2008

AIG Leaves Transit Agencies Holding the Bag

CTA Tattler has an item today based on an article in Crain's Chicago Business on how an equipment leaseback agreement that was guaranteed by American International Group could cost the Chicago Transit Authority $76 million. I won't go into detail here, but will check back on this in coming weeks since CTA apparently is one of at least 10 transit agencies affected and which are seeking relief from Congress. Last month, AP had this quote from Rep. Chris Van Hollen, D-Maryland:
"I made the point that it would be wrong to ride to the rescue of private Wall Street firms and then leave public transit agencies out in the cold."

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