We would generally be supportive of an infrastructure bank as proposed by the Federal City Council. However, this cannot be a repeat of the Youth Investment Trust. It must demonstrate that it can raise private capital. We would favor rules that prohibit the investment of public money without a certain percentage of private capital committed to the project. This means having a legitimate, respected investment professional with experience funding infrastructure projects at the helm of the bank. This should be an independent agency with careful safeguards against political manipulation.