Here we go again add Freeholder and DRPA member Jeff Nash to the list of Democrats blaming everyone but themselves for our fiscal problems. Yes Jeff Nash is now trying to blame Wall Street for the DRPA budget mess and proposed toll increase. Nash and the DRPA have submitted a budget which calls for toll increase to $5 as of July 1, 2011
According to a report in the Philadelphia Inquirer Nash said;
“If you can show to Wall Street that you can cut your operating costs and your revenues are still strong and you defer some capital costs, Wall Street, I believe, would look at a toll-increase delay more favorably,”
In the mind of Jeff Nash Wall Street now has a big say in whether he votes for a toll increase. This is pure posturing on the part of Nash. He wants the public to believe that when he votes to increase tolls it was against his will and Wall Street made him do it.
I guess Wall Street made Nash vote to extend the contract of John Matheussen for three years. Apparently Matheussen’s past mismanagement was not that bad at all and the toll payers really needed another three years of Matheussen leadership. Wall Street must have told Nash that hundreds of millions of dollars on squandered on “Economic Development” was “necessary”. Wall Street must have also told Nash it was “necessary” for an insurance broker who did not place the Authorities’ insurance policy to receive a phantom commission – courtesy of the toll payers. It also must have been “necessary” for the DRPA to treat its executives to luxury hotels and extravagant “conferences” in New York.
On behalf of toll payers: It is necessary that we hold the line on the toll rate we now pay. $4 to cross the bridge is excessive $5 is a bridge to far.