The Wall Street Journal reported last Friday on an astonishing tale of bureaucratic insanity: District of Columbia officials delayed replacing old cars of the type that were involved in last week's catastrophic train wreck because--the DC government had financed purchase of the cars via a tax shelter for which early winding down carried financial penalties, meaning that replacement could not take place before 2014.
A friend and LFTC reader has published for more than 25 years a superb private newsletter covering a broad range of issues. He labels all District items "Lost Colony." This latest episode illustrates why.
Comments