Goldman Sachs’ Road to Riches

Like a real estate agent representing both buyer and seller, Goldman Sachs simultaneously urges governments to privatize highways, advises them as they structure the deals, and buys a piece of the action.

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Number of city and state governments that have hired Goldman Sachs to advise them on privatizing highways: 4

Amount that Goldman Sachs clients recently put into a fund that invests in infrastructure such as highways: $3 billion

Amount that Goldman Sachs gave to a PAC established by its lobbying firm, Hillco Partners, to push a 2001 Texas ballot measure allowing privately operated roads: $10,000

Minimum amount Goldman Sachs paid Hillco lobbyist J. McCartt, a former aide to Texas governor Rick Perry, between 2002 and 2005: $95,000

Difference between the amount Goldman Sachs offered for Houston’s 83 miles of toll roads in 2005 and what a subsequent study found they were really worth: 86 percent

Number of county commissioners who voted to privatize: 0

Number of Goldman Sachs funds that invested in Australian toll road operator MIG while the bank was advising Indiana on its privatization deal with MIG: 3

Amount it would cost to drive through NYC’s Holland Tunnel if a MIG-style toll pricing scheme had been put in place at its inception: $185

Back to “The Highwaymen”

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We have an ambitious $350,000 online fundraising goal this month and it's truly crunch time: About 15 percent of our yearly online giving usually comes in during the final week of the year, and in "No Cute Headlines or Manipulative BS," we explain why we simply can't afford to come up short right now.

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