Is there a Republican among us who understands Lincoln's "greenbacks" policy?I opened for my beloved,
But my beloved had turned away and was gone.
—Song of Solomon
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Mussolini-style fascism plays no particular favorite among U.S. political parties these days. You hear Pennsylvania's Democratic Governor, Ed Rundell, touting the need for infrastructure financed via public-private partnerships all the time. Today, the pitchman is Republican George Pataki...
Now, what sane businessman will pay 7% to finance a project (today's going rate for "Build America Bonds") when the same can be had at a 1-2% rate with financing provided via a National Bank? And why would anyone willingly pay to those enterprises that are lining up to provide such PPP financing a premium that effectively amounts to a subsidy, when the history of these joint public-private interests is one of destroying more value than they have ever provided?
—Tom Chechatka
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