TxDOT’s coming debt ‘tsunami’

[white cloud]

We’ve seen it with AIG’s toxic debt, then the banks with their financial crisis spawned by subprime mortgages, now get ready for the next big bailout -- the toxic debt from toll roads. The Texas Transportation Commission engaged in a day-long lovefest at its April 26 Commission meeting idolizing themselves and like-minded leaders from around the state for indulging in ‘leveraging’ Texans to the hilt and demanded even more debt.

‘Leveraging’ is code for tolling (and now it can also include local revenue streams like property taxes and sales taxes). Their message is clear: no toll roads, no local debt, no money. All this despite the fact that the State of Texas is more than $34 billion in the hole for roads already. Federal data shows Texas is second only to New Jersey in road debt in the country.
http://www.examiner.com/article/txdot-s-coming-debt-tsunami?CID=examiner_alerts_article

[sonias]

1. Just look at Perry's crony appointees

Perry’s largely been able to get away with such behavior from his appointees. Transportation Commissioner, Ted Houghton of El Paso, brazenly called himself “the most arrogant commissioner of the most arrogant state agency in the State of Texas” at a press conference announcing TxDOT pulled the plug on a major Trans Texas Corridor project, TTC-35, due to the threat of litigation back in October of 2009. Rather than punish him for such arrogance, Perry promoted him to Chair of the Commission when long-time crony Deirdre Delisi bolted to run Perry’s failed presidential campaign in 2010.

you know these arrogant bastards are making off like bandits behind closed doors. You just know it in your gut.

[Melissa G]

2. Yes, we do know it in our gut

But who will investigate? Our AG? I miss General Jim, the People's Lawyer. I miss Ronnie Earle...

[sonias]

3. I wish the Feds would

They're the only ones that would stand a chance to uncover the criminal empire that Perry has built. He's like Al Capone these days.

Our AG is an idiot. As Juanita Jean's thread on the SS numbers exposure rightly points out, if he was any dumber we'd have to water him.

I miss real effective investigators too. They are a thing of the past.

Melissa!

[Melissa G]

4. We need to get the Hispanic

vote out in numbers so great they can't steal the election. We need to get real honest people who represent the ordinary people back in office.

Damn, I miss the days
when Ann was in office and General Jim was around. They fought for us.

We actually had a representative govt that was representing people and not just corporate interests.

You could lodge a complaint against a ripoff corporation and a kick ass idealistic state lawyer would sue their ass on your behalf. Those were the days.

I'd settle for Feds intervening, though.

sonia

[ges5626sek]

5. ugh..