California high speed rail having trouble finding investors
2010-08-02 17:01:15.723599+02 by Dan Lyke 0 comments
Investors shy away from California high speed rail plan. There's $11 billion in taxpayer dollars pledged to the plan, but it needs $40 billion total. Government subsidized rail seems like a grand idea 'til you read the tales of the railroad robber barons of the 1800s who managed to transfer most of the rail money into their pockets and then have the railroads default on the debt.
If I were an investor looking back to the legacy of Hopkins, Crocker, Stanford and Huntington, among many others, I'd go invest in something else too.