“The same phenomenon is common in Europe. In Spain last year, ten toll concessions, including the Madrid-Toledo highway, became insolvent. The Spanish government provided more than a billion euros in bailout money to the tolling firms Abertis, Acciona, ACS, Bankia, Cintra, OHL and Sacyr Vallehermoso. Failures are equally common in the United States, beginning with the toll lanes on the 91 freeway in Orange County, California which had to be bought out by county taxpayers in 2003 for more than the original cost of construction. San Diego’s South Bay Expressway went bankrupt in 2010 and was also bought out by county government.”
