Railroads: The Bleeding New Haven

As the Senate considered a bill for massive federal aid for the nation's hard-pressed commuter lines, Connecticut's Republican Senator Prescott Bush took the floor last week to warn that it would take more than money to save the ailing New York, New Haven & Hartford Railroad, one of the nation's largest commuter lines. "The New Haven is bleeding to death," he said. "The only chance of saving its life is to apply the tourniquet of bankruptcy."

Bush is not the first to suggest such drastic action. Bankruptcy has been recommended by the New England Council and by a counsel of...

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