Question

Are there any banks anywhere that grant a four billion dollar loan, let alone a low interest loan, without seeing a business plan?

are we surprised then to learn:

Bond rating: New York has the second-lowest bond rating in the nation, according to Moody’s.

Well jeepers I wonder why! Ratner has us in a double bind - if his ill conceived project fails the state absorbs this cost,- thus motivating the state to prop it up...and if it 'succeeds' it destroys the neighborhood and permanently, negatively alter Brooklyn.