Actually, eight million New Yorkers already "Own a piece of the MTA" (News Briefs - November 3).
In 1953, the old New York City Board of Transportation passed on control of the municipal subway system, including all its assets under a master lease and operating agreement to the newly created New York City Transit Authority.
Under late Governor Nelson Rockefeller in the 60's, the Metropolitan Transportation Authority was created. The governor appointed four board members. Likewise, the mayor four more and the rest by suburban county executives. No one elected official controlled a majority of the votes.
When operational problems occurred or fare increases were needed, everyone could put up their hands, and say “don't blame me, I'm only a minority within the board.” Decade after decade, mayors and other public officials would all sing the same sad song: if only we had majority control of the board things would be different.
All have long forgotten that buried within the 1953 master agreement between the city and NYC Transit is an escape clause. The city has the legal right at any time to take back control of its assets, which includes the subway and most of the bus system as well.
Actions speak louder than words. If municipal elected officials feel they could do a better job running the nations largest subway and bus system, why not step up to the plate now and regain control of your destiny?