Water under the bridge
This would probably take a Public Finance 103 Class to ever sort out... maybe even an entire dissertation... but I would love to see someone try and go and forensically look at thie 2008 bond deal the PWSA put out there and see if anyone could figure out how much of the $300+ million floated from that ever made it into actual infrastructure investment... as in something actually resembling pipe. It really needs to be written up as a case study somehow. It's way way to convoluted to get into again here, but it was pretty clear long ago problems would be hard to avoid.
But I am all for investment in core infrastucture, so as long as this rate increase does not wind up in Malaysia, I'm good.