Ability Quote by Bethany McLean
“The big banks advise cities about whether privatization is a wise choice. They also control the ability of states and cities to access the market for their financing needs.”
About This Quote
Source Article: Bloomberg Business, 2023
Big banks influence municipal decisions on privatization and control financing access.
In simple terms: Banks shape city privatization choices and funding options.
Recognize financial power dynamics.
Themes
Mood
Type
When to use this quote
- city budgeting
- infrastructure projects
- public-private partnerships
- debt issuance
Key Concepts
Questions to Reflect On
- How do bank incentives affect city outcomes?
- What alternatives exist for municipal financing?
Banks may prioritize profit over public interest.