>Even if the Pennsylvania Railroad still existed, the cost of renewing the caternary and AC electric system would be so great that the Pennsy would have to issue bonds to cover the costs. This would require other people’s money as filtered through Wall Street.
>Since 1972, Amtrak, an agency of the United States Government, has owned the line. The government, in its own way, issues bonds to cover everything it does. So no matter who owns the Northeast Corridor, it will take other people’s money to upgrade it.
Wow, what an amazingly shallow analysis. I mean, I’d like to hope this was sarcasm, but I don’t see any traces of it.
Those investors in the private railroad are voluntarily making that investment, and will only do it if they expect to make a return on it. The taxpayers (who will pay off those bonds, it’s not like Amtrack runs at a profit) do not have a choice in the matter, and do not get a return on the money they are forced to put in.
You might want to check out the word ‘coercion’ in the dictionary.
The solution, obviously, is for the government to nationalize Amtrak.