Friday, October 24, 2008
Transit Projects hit Credit Wall
Metro and 30 other transit agencies across the country may have to pay billions of dollars to large banks as years-old financing deals unravel, potentially hurting service for millions of bus and train riders, transit officials said yesterday.
This credit crunch could not come at a worse time. Americans are flocking to transit in record numbers and many systems cannot handle all the new riders. Transit systems nationwide desperately need to expand their service.
Salon has details.
Posted by Unknown at 9:44 AM