Wall Street Ripple: AIG Could Take Down Muni: The Los Angeles MTA is almost... - NBC Bay Area

Wall Street Ripple: AIG Could Take Down Muni: The Los Angeles MTA is almost...

    Winter Olympics PyeongChang 2018 Medal Count
    Country
    Total
    1
    Norway
    1311933
    2
    Germany
    127524
    3
    Canada
    95721
    processing...

    NEWSLETTERS

    The Los Angeles MTA is almost definitely screwed, and Muni and BART could be next. Over the last 20 years, all three made AIG-related deals wherein the transit authorities sold their equipments and facilities to investors and then leased them back. It's a common practice, or was before AIG went down the tubes. If those deals go sour, "the potential is pretty horrendous across the industry" according to a transit trade group. And when money gets cut, the first thing to go? Service, of course. [LA Times]

    For more stories from Curbed SF, go to sf.curbed.com.