Recently the group "Occupy The T" held its first meeting, and, according to an article in The Boston Occupier, activists, organizers, and community members there painted a picture of the options the MBTA has to eliminate its debt different from the two scenarios the MBTA has presented.   

At the meeting, "Attendees stressed the importance of rejecting the state’s claim that there is no alternative to the two proposed regimes of cuts and fare hikes," writer Doug Greene said.  He added, "Instead of deciding between the MBTA’s two proposed plans, 'Occupy the T' hopes to expose the role of for-profit financial institutions in creating and perpetuating the MBTA’s budget crisis. Several present argued that the banks should cancel the T’s debt and state fund the T directly by raising taxes on corporations and the richest 1% of state residents."

The article also says that, "The MBTA currently finds itself indebted to UBS Bank for $9 million, Morgan Stanley for $182,000, JP Morgan Chase for $4.4 million, and Deutsche Bank for $8.6 million. Each of these banks was the recipient of federal bailout money in 2007-8."  

So, South End Patch readers, is it fair for a bank propped up by taxpayers to demand money from the MBTA, given that their demand is likely to be met by fare increases on those taxpayers, or is it necessary for the banks to do so to restore balance?  Do you think Occupy The T presents a viable third option to the two fare-increase-and-service-cut scenarios proposed?  Let us know in the comments.