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LA busted for trying to redirect stimulus infrastructure funds

Posted By admin On March 13, 2009 @ 9:05 am In Construction News | No Comments

You thought that money was for infrastructure? 

Several communities in the Los Angeles area were attempting to pull a three card monte [1]with their infrastructure funds before the state’s transit authority put a halt to the plans. Essentially they wanted to take dedicated infrastructure funds from the stimulus bill and apply them to general revenues. Alas, more clever accountants will probably succeed at this elsewhere.

Nonetheless, the finance director of the city of Torrance had a good point: “You can’t do much with $500,000 in infrastructure anyway.”

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[1] three card monte : http://www.nytimes.com/2009/03/12/us/12swap.html?_r=3

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