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But if a big troubled insurer were caught in a cash squeeze and began selling off bonds to raise cash, the insurers argue that it could wreak further havoc on the bond markets.
The tolls were to be used to pay off bonds to build the road, and were to be removed when the bonds were paid.
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Before ground can be broken, however, the Connecticut Legislature will need to sign off on bonds to float the project, with a review expected to start next month.
Then, when you're in your late 80s and 90s, start selling off bonds at maturity to live off of the principal.
Two trade associations of waste-disposal companies last week filed lawsuits against Atlantic and Gloucester Counties to overturn a surcharge on garbage used to pay off bonds issued to build waste-disposal facilities.
The ruling left trash haulers and municipalities free to dispose of their garbage at other, cheaper sites, threatening to reduce the disposal-related revenues counties have used to pay off bonds sold to finance disposal sites.
The taxpayers have shelled out $24 million a year to pay off bonds used to build the old St . Louisstadium.
The restructuring plan will reportedly include the sale of bonds to pay off some debts.
Sold $2 billion worth of bonds to pay off some of its $21 billion in debt.
Sam Katz, a sports finance expert who advised the Whitman administration, said that such a large public commitment to pay infrastructure costs, and use taxes to pay off bonds, "gets close to unconscionable".
When the C.E.O.'s are in line with the rest of us, selling off our bonds to keep our homes and cars and kids alive, they might begin to appreciate the dying middle class' ability to stabilize the economy and promote social welfare.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com