Former NSW premier Bob Carr was often criticised for being too cosy with business. Especially with the development of large infrastructure projects such as the Sydney Airport railway line, Cross-City Tunnel and Lane Cove Tunnel, many believe Carr ignored the interests of citizens to get better deals for his mates in construction and investment banking.
However, recent events have revealed Carr’s true nature: a socialist subversive, intent on swindling the corporate fat cats for the benefit of the good people of New South Wales.
What all these projects have in common, the latest being the Lane Cove Tunnel, was that once these projects failed to achieve their ridiculously inflated income projections, the investors wrote off the billions they spent or sold off their stakes at a drastically reduced price.
This was all a deliberate strategy on Carr’s part. He was willing to wear the endless criticisms of being a capitalist stooge and big-business crony, because deep down he knew that within a few years, he would effectively have given the citizens of this great state a beautiful gift: free roads and railways!
What better way to build infrastructure than to con a bunch of investment bank money men, lured by false and unachievable promises of revenue, into paying for it?
Cost to taxpayer: zip. Cost to business: who cares?
It’s no wonder Bob went straight from Sussex St to Macquarie Bank. After the people of NSW helped themselves to such an enormous free dinner, Bob’s going to have to wash a lot of dishes to make up for it.