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@ Jim T:The article's suggestion that transit agencies should not pay their obligations because others who gambled and lost were bailed out is incredibly lame.

Why? It's yet another example of the public having to cough up money to support private enterprise. I'm kinda done with that. It's also somewhat unfair because (public) transit agencies generally can or will not go bankrupt preventing a situation where they could renegotiate their payments.

Sure, the public officials that made those deals should be removed. However, that said, it should be recognized that many of these contracts fail the basic concept underlying contract law: that contracts have to be fair to both parties.

by Jasper on Jun 11, 2012 9:53 am • link • report

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