WASHINGTON AP - Leaders from 11 transit agencies pleaded with Congress for help Tuesday as long-term financing deals with investors collapse amid the global credit crisis.The officials warned that 31 of the nation's largest transit systems could face at least $2 billion in payments in the coming months if hundreds of the deals go bad.
November 19, 2008 at 12:00 AM
1 minute read
WASHINGTON AP – Leaders from 11 transit agencies pleaded with Congress for help Tuesday as long-term financing deals with investors collapse amid the global credit crisis.
The officials warned that 31 of the nation’s largest transit systems could face at least $2 billion in payments in the coming months if hundreds of the deals go bad. The fallout could cripple rail and bus systems at a time when ridership is soaring.
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