Goldman Sachs' Road to Riches
News: Like a real estate agent representing both buyer and seller, Goldman Sachs simultaneously urges governments to privatize highways, advises them as they structure the deals, and buys a piece of the action.
January 1, 2007
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Number of city and state governments that have hired Goldman Sachs to advise them on privatizing highways: 4
Amount that Goldman Sachs clients recently put into a fund that invests in infrastructure such as highways: $3 billion
Amount that Goldman Sachs gave to a PAC established by its lobbying firm, Hillco Partners, to push a 2001 Texas ballot measure allowing privately operated roads: $10,000
Minimum amount Goldman Sachs paid Hillco lobbyist J. McCartt, a former aide to Texas governor Rick Perry, between 2002 and 2005: $95,000
Difference between the amount Goldman Sachs offered for Houston's 83 miles of toll roads in 2005 and what a subsequent study found they were really worth: 86 percent
Number of county commissioners who voted to privatize: 0
Number of Goldman Sachs funds that invested in Australian toll road operator MIG while the bank was advising Indiana on its privatization deal with MIG: 3
Amount it would cost to drive through NYC's Holland Tunnel if a MIG-style toll pricing scheme had been put in place at its inception: $185
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