Snyder County refuses Boscov’s Bailout
Officials in Snyder County are refusing to back a loan as part of the Boscov’s Bailout – even though Pennsylvania officials are pressuring them to do so, arguing that the loan would be “risk free” and guaranteed to revitalize Boscov’s and the local economy.
All of the comments following the story applaud the county’s decision, though the point made is only half right. The question should be “If it is so risk free, why doesn’t the private sector put up the loan?” Investors are always looking for a no-risk, guaranteed return.
However, state (and federal and local) governments might be assessing the level of risk a little differently – since they are “investing” other people’s money.