Re:Cities should not pay for new stadiums
by mywittyname on Tuesday March 15, 2022 @02:43PM
(#30689248)
> Also the only way to stop these gifts to private companies is likely with a new federal law banning them.
Or a way to punish politicians who sign contracts like this.
One of the issues that is that a mayor or whatever can be elected to a single term then indefinitely sign away the keys to the city.
Either punish the people responsible, or give governments inherent "fuck you" clauses that allows them to back out of terrible contracts or bonds without penalty. Yeah, it makes lending more expensive. But the current system has massive loopholes that are being exploited.
Or a way to punish politicians who sign contracts like this.
One of the issues that is that a mayor or whatever can be elected to a single term then indefinitely sign away the keys to the city.
Either punish the people responsible, or give governments inherent "fuck you" clauses that allows them to back out of terrible contracts or bonds without penalty. Yeah, it makes lending more expensive. But the current system has massive loopholes that are being exploited.