Silver Lining In States' Fiscal Crisis

摘要

We are cheered by news that some states plan to start privatizing more of their infrastructure. In an ironic recent broadcast, New York Governor David Paterson, facing ballooning deficits estimated to be as much as a staggering $26.5 billion over the next three years, lamented that there may be no alternative but to sell off roads, bridges and other infrastructure. New York tabloid headlines read "NY for Sale." Additionally, investor groups from around the world have started to line up to put their money into what may be "the largest new asset class in years." This expected trend recently led one investor to say, "Ten to 20 years from now infrastructure could be larger than real estate." The implications are enormous.