Popeye is a short, bearded man of 59 who often wears an earring and a cap.His real name is Robert Innes, but he acquired the nickname 25 years ago in prison. He started drinking at 13, and three years later began living on the streets, which continued until November of last year. When he was on benders, Popeye would steal beer and panhandle aggressively. His untreated heart problems would land him in the emergency room unconscious, and when he woke up would start a fight. He also gave new meaning to the term “repeat offender.” He said he has been incarcerated in his home town of Norwich, England, 118 times, and in Peterborough, about 75 miles west, where he lives now, 48 times. Popeye used the prison system for housing, the emergency room for basic medical care and the courts as his support system. Until now, no one ever issued a bond to invest in people like Popeye. This lifestyle is more than a tragedy for Popeye; it’s a tragedy for taxpayers. When a government needs to invest in an expensive capital project — a new sewer system, bridge or highway — it issues bonds. Bonds raise upfront money from private sector investors, who are then paid back with interest from the tolls or charges the project will generate. opinionator.blogs.nytimes/2012/06/20/the-promise-of-social-impact-bonds/
Posted on: Wed, 19 Jun 2013 16:25:40 +0000
Trending Topics
Recently Viewed Topics
© 2015