Infrastructure Bank -- An Economic Elixir?

[Rusty5329]

Run time: 01:47 https://www.youtube.com/watch?v=0iAnkE_UoR4   Posted on YouTube: September 06, 2011 By YouTube Member: MainStreetInsider Views on YouTube: 6   Posted on DU: September 06, 2011 By DU Member: Rusty5329 Views on DU: 609

 
From http://www.mainstreetinsider.org/90secondsummaries/?p=445

With Congress returning this week, 90 Second Summaries kicks back into gear for the fall. All eyes will be on President Obama as he delivers an address Thursday evening to a joint session of Congress. Mr. Obama is expected to propose a infrastructure-related program to get the economy moving again, and an infrastructure bank is a prime candidate for inclusion in this package.

Last season, we covered a prominent infrastructure bank bill by Rep. Rosa DeLauro (D-CT3) and released an interview with the Congresswoman alongside it. Rep. DeLauro has reintroduced her proposal for the 112th Congress, so we are updating this episode to account for recent developments, and we'll be posting highlights of the interview on Thursday.

[JDPriestly]

1. How is this infrastructure bank to be financed.

If any or all of the money is to come from the private sector, I oppose it. The wealthy should pay taxes, and the infrastructure should belong to all the people, not just to the rich.

That is the catch with this proposal. Will the infrastructure belong to the people, or to the rich (including sovereign wealth funds)?

Read Matt Taibbi's Griftopia to understand what I am talking about.