MTA Fare Hikes, MTA budget, and Big Banks
Nir brought up an excellent issue in class: why do MTA workers make so little when the fares continue to increase?
This Daily News editorial explains the connection between MTA (and the city’s) budget, Libor rate, and the financial crisis.
Reading this article makes me wonder why an organization such as the MTA would need to get involved with banks interests and fiscal entanglements in the first place. The MTA is a public organization whose actions affect every resident in the New York Metropolitan area. Expansions, loans, and deals should be made a public discussion and should be made with extreme care. When an organizations is given complete control over an area by the government, in this case travel, should they be allowed to make private investment?