What more can be said?

I am amazed by the lack of interest by most of the mainstream press about the latest Atlantic Yards revelation - the state and city is prepared to hand over billions of dollars in subsidies and loans without even seeing a business plan (hey where do i sign up!) .

The Brooklyn Papers report:
Ratner’s failure to provide a comprehensive plan appears to violate the 2005 MOU, which was signed by the developer, Mayor Bloomberg and Gov. Pataki. That document mandated a public review of a “financing and operating plan” in exchange for political support and $200 million from the city and the state (since raised to $305 million).

Apparently this is not 'news' to the New York Times (Ratner's partner)? I wonder if Spitzer's prepared to withdraw support of the project in light of this? Recall, New York has one of the lowest bond rating's in the country...I can't imagine this will help it and that alone costs New Yorker's money because it means our debt is more expensive. If he's serious about reform and getting New York off the fast track to financial disaster, then I would think he would.

The Bloomberg administration has a reputation for being relatively clean thus far - after all, its pretty hard to line a billionaire's pockets - but in light of all this, the New York Time's and other mainstream media's indifference borders on criminal. It's rather like a bubble stock market -people are afraid to say boo because it might mean the bubble bursts. But if this current 'boom' in real estate has basically come about because Bloomberg is letting developers get away with criminal behavior (arson for example) or because of a falsely propped up market driven by goverment subsidies, then eventually the bubble has to burst or our quality of life will seriously suffer:

Bloomberg said:
"This city cannot build the schools, expand the libraries, fix the potholes and build big sports facilities at this time...Shea and Yankee Stadiums don't make any money for the city...If you counted the infrastructure for Shea and Yankee Stadiums, they are disasters for the city...We are only going to build stadiums if there's private money."
Yet he IS giving money to Ratner, which means he is LYING to the public, and he is doing little or nothing about the infrastructure - in fact he's largely ignoring it AND adding more housing. Short term: Bloomberg looks good. Long term: quality of life suffers.