The MTA has to borrow $600 million today…

The MTA has to borrow a mountain of cash because the state won’t fork over the agency’s transit funds until the end of the year, officials said. Adding insult to injury, the MTA will have to pay the state a fee as high as $5 million when the agency borrows the $600 million needed to pay expenses, officials said.

And yet… the MTA just left $80 million on the table to give Ratner the ability to pay it back over 22 years. Who’s running this government? Oh, right,  these guys.

(June 26th, 2009)

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