[Margaret Pilkington]

Originally Posted by Tealeaf

Just a few points:

1) This was/is a PFI style contract.

2) That involved not just design and build the trains, but also finance and maintain over a 30-year life cycle.

3) That meant the Frog-Kanuks had to have lot's of dosh up front to pay for the initial design-build phase.

4) Which means they have to borrow from the banks

5) But the banks won't lend 'em 'owt, because their balance sheet ain't worth a case of tinned dog turd.

6) Which means they were screwed from day 1 in the bidding process.

7) Which in turn means that if the Labour government had at the time had got their act togeather and put the tender documentation right, none of this nonsense would have arisen in the first place.

Yes Mr T....well said, and in a format that even the dumbest should(that being the operative word) be able to comprehend.