Despite some last-minute dire predictions, the MTA managed to see its bond offering last week. While MTA officials warned that the bonds might not sell in a down market, the authority raised $550 million through bond sales. On the flip side, the agency will face higher-than-expected interest rates as they repay the bonds. You win some; you lose some.
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I realize that they have to invest in order to get themselves out of this hole, but won’t this strategy keep the MTA into borrowing more money into the future?