Deval Patrick wants the State to take on the Turnpike’s debt. Treasurer Cahill on NECN calls it a bad idea.
Cahill: “It’s currently a BBB, which is pretty close to junk bond status, and it’s a very very risky move, I think it’s a reckless move by the administration and by the legislature to even entertain it at this point as a solution to their problems.” – NECN, 7/15/08
Cahill: “It puts us at greater risk to actually have a reduction in our own bond rating. Which would be higher costs for borrowing for Massachusetts residents.” Curtis: “Any body consult you on this?” Cahill: “No, no we’ve had very minimal conversations with the administration.” – NECN, 7/15/08
I never thought I’d say this but at least there is one grownup on Beacon Hill, Tim Cahill.