Thursday, August 29, 2013

New column day

Here, on the dangers of accepting advice from self-interested advisers - and the obvious conflict of interest of the consultants hired to push a wastewater P3 on Regina's citizens.

For further reading...
- The Museum of Hoaxes offers some background on the now-notorious movie reviews of Dave Manning. 
- Matt Taibbi documents the role of self-interested bond ratings agencies in precipitating the 2008 financial crisis. featuring these quotes from agency employees which seem all too relevant in light of the alchemy behind P3 promotion:
"As you know, I had difficulties explaining 'HOW' we got to those numbers since there is no science behind it," confesses a high-ranking S&P analyst. "If we are just going to make it up in order to rate deals, then quants [quantitative analysts] are of precious little value," complains another senior S&P man.
- The Canadian Council for Public-Private Partnership's membership list is here. And both AECOM and Deloitte go well beyond that organization in promoting P3s (while seeking to generate business for themselves in the area).
- And Barb Pacholik reports on how Regina's referendum debate is only becoming more heated as voting day approaches.

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