Feds agree to give Seattle $2B in low-interest loans for light rail

seattletimes.com

31 pointsjseliger6 comments

Interest is the largest single expense of any debt-financed infrastructure project. Ellen Brown, author of Web of Debt [1], has advocated a public infrastructure bank for several years now.

[1] http://www.webofdebt.com/

Who profits the most off the interest?

Municipal bond holders (you could be one if you want). The interest is tax free too!

And who are the biggest Muni bond holders?

As with most financial instruments they are owned by primarily by "institutions". You may know them better as that bond fund in your 401(k).

But not the monorail system which the voters wanted several years ago.

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