The Boston Globe reports:
Senator John Kerry of Massachusetts, along with Republican Kay Bailey Hutchison of Texas, will propose legislation today that would create a new infrastructure bank to help finance large public works projects.We can only imagine the fraud that will be generated by government financing projects that the private sector should be doing or not doing.
The legislation would provide loans and loan guarantees for bridges, rails, roads and other infrastructure projects through an independent entity called the American Infrastructure Financing Authority, which would be similar to the Export-Import Bank.
The authority would initially be financed by the federal government
