Comments on: Oilers ownership and City of Edmonton agree on new arena deal

By: neuron90

neuron90 — Fri, 20 May 2011 05:36:46 +0000

So the city will own the building, and the government will pay to build most of it, but who makes the profits, if there are any? Probably not the taxpayers. But hey, if that’s what they want to do with their money up there.

We’ve embraced the same idea here in America in the last few years. It’s called Public Risk, Private Profits. It worked really well for Citi, AIG, Goldman Sachs, GM and even bailed-out homeowners. Taxpayers cover all the risks when things fail (cuz they’re too big to fail) but the ‘capitalists’ reap all the profits when the Fed pumps up the market. What a racket.

By: cshearing

cshearing — Thu, 19 May 2011 15:36:13 +0000

The fact that the city will own the building should head off most complaints about public money. If the building was owned by Katz, I could see the gripes.

By: govtminion

govtminion — Thu, 19 May 2011 14:09:22 +0000

Congrats to the Oilers, their fans, and the city of Edmonton. Nice to see a city and team just put heads together and get a deal worked out without a ton of complaining and threatening attached. Combine this news with the youth movement they’re creating there thanks to their repeated high draft picks, and Edmonton might really be something to see in a couple of years- glad they’ll still be there for a long time to come.

Thrashers, are you paying attention to all of this?