Huffington Post: The Obama Bank and P3s

From Huffington Post:

On February 26th, President Obama issued his first budget, 'A New Era of Responsibility: Renewing America's Future'. It proposed the creation of a National Infrastructure Bank, something promised in an important campaign speech delivered at the General Motors plant in Janesville, Wisconsin almost a year ago. The Bank idea then made its way onto Obama's campaign website as a plank of his plan to strengthen the economy.  The Budget requests $5bn for 2010 to get the Bank off the ground with a projected additional $20bn in capitalization by the year 2014. Among other things, the Bank's mission 'will be to not only provide direct Federal investment but also to help foster coordination through State, municipal, and private co-investment in our Nation's most challenging needs.' By private co-investment, the Obama administration assumedly means that the Bank will support public-private-partnerships (P3s); that is, a move toward privately-controlled projects.