11.12.2008

Belgium: Metro's Angry Pimp

A Belgian bank that entered into a long-term $43 million loan with Metro wants its money back. All of it. Now. This story has been brewing for a while but now it hinges on what the courts do next.

The Washington Post:
Metro officials are scheduled to ask a federal judge today to temporarily bar a Belgian bank [KBC Group] from collecting $43 million from the cash-strapped transit agency. The bank is demanding the payment because its long-term financing agreement with Metro has unraveled, a consequence of the global credit crisis.

That would mean less money for much-needed capital projects, including overhauling escalators, fixing tunnel leaks, upgrading train communication equipment and buying buses.
Naturally, the Washington area's congressional delegation (and make-believe Congresswoman Eleanore Holmes Norton) are lobbying the Treasury Department to back Metro using the $700 billion bailout package approved by Congress a month ago or so. Squeezing $43 million out of $700 billion shouldn't be too difficult, and even if it is, Congress will probably pass additional bailouts so be on the lookout for one of the biggest Congressional earmarks in DC history.

As much as I despise Metro, even I admit its only reasonable to keep those shit trains solvent. But I can't help being confused by two things (partly due to my ignorance of the lending industry): #1) Who in the fuck would ever ever EVER invest in Metro?? Buyer beware, Belgium. And #2) Why with this obvious crisis are people advocating constructing not one but TWO new metro lines-- Purple for Maryland and Silver for Dulles??

With respect to point numero uno, the Washington Post explains how Metro got the cash:
Known as lease-back transactions, the deals were done from the late 1980s to 2003, and allowed cash-strapped agencies, such as Metro, to sell their rail cars or other equipment to private companies, such as banks, and then lease them back.
I ask you, Belgium, did you even bother examining the trains? Did you not think to review Metro's dismal safety record or ever-expanding operating budget to say nothing about investigating the city's inability to manage its budget or keep District employees from embezzling millions of dollars? Use "teh Google" next time, frenchie. Wikipedia has some great pics of like three Metro derailments.

I just can't get over this. It's like Belgium tried to pimp out a hooker without first inspecting the goods. In this case, the chick turned out to be a bearded transvestite with a huge hairy cock... who knew!? (By the way, I'm pretty sure this is the living arrangement of a couple in my building).

Well, we all knew that Metro was nothing more than a cracked out tranny giving lousy handjobs for $2.20 a pop. Moreover, all of those people wanting to spend MORE taxpayer dollars to expand the system KNOW THIS TOO and they need to STFU.

Transit officials, grow a pair and start telling people "NO." And city officials, back them up. Doors closing, bitches.

14 comments:

  1. Wasnt JEAN CLAUDE VAN DAMME from Belgium?

    He was the "muscles from Brussels" right?

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  2. Wait a minute. This is too complex. Rusty says he doesn't like it when trains are late and they smell bad.

    (Rusty can't even wipe his own @ss.)

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  3. i wonder how this would effect the "NEW ANS IMPROVED" purple line (barrrrrrrrf)!

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  4. JEAN CLAUDE VAN DAMME being from Belgium is significant because...

    He might be one of the major reasons why Belgium decided to do business with Washington.

    I remember when JEAN CLAUDE VAN DAMME was filming TIMECOP over in Georgetown.
    Now this was well over 15 years ago.

    I remember it was a real big deal that he was in town back then.

    There were TONS of people flooding Georgetown hoping to catch just a glimpse of him.

    It was well reported in the media how well he was received in town while filming the movie over here.

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  5. 1) Screw the Germans, those are the same guys who are responsible for Hitler and now make shizer videos that are permanently scarring our fragile minds. We should just not pay.

    2) Screw the silver line. Smart people use National anyway. And for you people who enjoy being anally probed by security at Dulles, there's a perfectly functional express bus line called the 5A already that connects Dulles to not one but TWO metro stations. I have taken it before (not by choice) and I can assure you it works fine, is fast, and isn't even that crowded. So I'm not interested in spending 50 billion dollars so a few people too poor or cheap to drive their own asses to Dulles can ride a train instead of a bus.

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  6. I've been gone for a couple months.

    I came back expecting another circular argument about exactly who does, and does not, qualify as a "douche."

    This is much better, thanks for letting me get my hate on.

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  7. james. you are a douche.

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  8. does this mean that if metro has to pay up, than they might not have the $ to do the bag searches?

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  9. I thought the point of the bag searches WAS to raise money. You know... "wallet inspector..."

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  10. this is the funniest post i ever read.

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  11. Rusty is a douche ....

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  12. LIZ = MAJOR DOUCHENovember 12, 2008

    LIZ WAS THE DOUCHEIEST OF THE DOUCHES THOUGH. NOW THATS SAYING A LOT TOO BECAUSE WE HAVE HAD A LOT OF DOUCHIERY GOING AROUND HERE SINCE THE BEGINNING OF THIS BLOG.

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  13. this blog kind of sucks. i mean, it seems like it's written by recent college grads who feel alienated and alone in the city and dont have mom and dad around to go home to every weekend. i am consistently disappointed. why do i read it? now that is a question for debate.

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  14. Shut up, Liz. You had your chance.

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