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Charlie - I was trying to be sarcastic about the junk status not making much of a difference, because on the 495 HOT lanes, Transurban only raised less than 300 mil in private equity out of the total cost of the project. The rest was state money (400 mil) and federally-subsidised loans and bonds (around 1.7 billion). Wasn't directing the sarcasm at you at all, just at the fact that with Democrats in charge of the federal DOT, the HOT Lanes pork isn't there for them. Now as to whether there is other pork available, that is a matter of debate. But my point was HOT lanes became federally subsidised during the Bush administration.

by stevek_fairfax on Feb 15, 2011 3:25 pm • linkreport

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