Recently publicized budget cuts at the New York Metropolitan Transportation Authority (“MTA”) caused the closing of two subway lines and left thousands of New York City public-school children without the buses they usually take to school.
Taxpayer Suffers SILO (Pre-tax) Loss in Wells Fargo
In <i>Wells Fargo & Company v. United States</i>, a court considered for the first time SILOs involving domestic municipal transit agency lessees. While one would have thought that the domestic and federally approved nature of the transactions would have some influence on the decision, they did not.
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