Why we need investment banks: New York's MTA needs about $20B between 2015 and 2019 to keep its...

|By:, SA News Editor

Why we need investment banks: New York's MTA needs about $20B between 2015 and 2019 to keep its system from crumbling, but has yet to figure out how to pay for it. The MTA is a major issuer in the municipal bond market and even scheduled fare increases won't keep its debt service/revenue from rising to nearly 20% by 2018.