Econintersect: Former Chief of White House Staff and now Mayor of Chicago Rahm Emanuel has started a variation on the idea of an infrastructure bank which is comprised by a private-public partnership. Other infrastructure banks have been proposed and some started. The Obama administration has proposed a National Infrastructure Reinvestment Bank which has not gotten anywhere in a very contentious congress. A New York Times Op Ed 12 July 2012 by Michael B. Likosky argued for the national bank, while Wayne Crews at Forbes argued against it 7 September 2011. New York State has started a $25 billion infrastructure bank with former Investment banker Felix Rohatyn to sit on the board. California has a $32 billion infrastructure bank. Infographic follows the “Read more…” prompt. Click on picture of Golden Gate Bridge for collage of infrastructure projects.
The infographic below was provided to Econintersect by Michael Likosky and Laura Noren from the Center for Law, Economics & Organization at New York University.
- National Infrastructure Reinvestment Bank (Wikipedia)
- Banking on the Future (Michael B. Likosky, The New York Times, 12 July 2012)
- Obama’s Jobs Agenda: An Infrastructure Bank that Robs You (Wayne Crews, Forbes, 7 September 2011)
- Banker Rowatyn to guide NY infrastructure bank: Governor (Reuters, 28 February 2012)
- www.ibank.ca.gov (California Infrastructure and Economic Development Bank, State website)