Blackstone, BlackRock or a Public Bank for California´s Money?
(WorldNews Germany)

California needs over $700 billion in infrastructure during the next decade. Where will this money come from? The $1.5 trillion infrastructure initiative unveiled by President Trump in February includes only $200 billion in federal funding, and less than that after factoring in the billions in tax cuts in infrastructure-related projects. The rest is to come from cities, states, private investors and public-private partnerships (PPPs). And because city and state coffers are depleted, that chiefly means private investors and PPPs, which have a shady history at best. A 2011 report by the Brookings Institution found that `in practice [PPPs] have been dogged by contract design problems, waste,...