StickWithANose

If the last ten years have taught you anything, it is that the out-sourcing of vital national responsibilities to the private sector creates an incentive structure for private actors to wring every bit of capital possible from public coffers for sub-standard work, and it sets the stage for all manner of speculative schemes backed by the moral hazard of the federal government. Daniel Wolff offers up a tale of charter schools, real estate speculation and a vision of the future. Here’s the money graph:

“The charter public schools,” says EPR’s David Brain, “offer lenders/leaseholders a dependable revenue stream backed by a government payer. It’s a very desirable equation.”

Yep, I’m sure it is.