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Blackstone, BlackRock or a Public Bank for California’s Money?

June 4, 2018

By Ellen Brown : truthdig – excerpt

California needs over $700 billion in infrastructure during the next decade. Where will this money come from? The $1.5 trillion infrastructure initiative unveiled by President Trump in February includes only $200 billion in federal funding, and less than that after factoring in the billions in tax cuts in infrastructure-related projects. The rest is to come from cities, states, private investors and public-private partnerships (PPPs). And because city and state coffers are depleted, that chiefly means private investors and PPPs, which have a shady history at best… (more)

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WHY PUBLIC-PRIVATE PARTNERSHIPS DON’T WORK:
A further danger is the recent effort by the World Bank, the G20, OECD and others to ‘financialize’ PPPs in order to access the trillions of dollars held by pension funds, insurance companies and other institutional investors.others to ‘financialize’ PPPs in order to access the trillions of dollars held by pension funds, insurance companies and other institutional investors….(more)

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