Barrett Kalellis is a writer, newspaper columnist, and adjunct scholar with the Mackinac Center for Public Policy.

By Barrett Kalellis

Amtrak: The Federal Government’s Own Corporate Financial Scandal

With the fraud scandals of Enron, WorldCom, and other corporate giants roiling the stock market, along comes Amtrak to announce a shutdown unless it gets an emergency $200 million cash infusion. But the government should stop subsidizing the failed national rail service, which has wasted billions of tax dollars, and allow the market to punish mismanagement with bankruptcy—exactly as it is doing with the corporate malefactors. … more