at ization ▁transactions ▁can ▁be ▁interpreted ▁as ▁a ▁form ▁of ▁a ▁secured ▁loan U . ▁of ▁C . ▁professor ▁arg ues ▁priv at ization ▁of ▁public ▁assets ▁just ▁like ▁borrow ing ▁money , ▁July ▁ 2 2 , ▁ 2 0 1 1 , ▁Chicago ▁Trib une , ▁A me et ▁Sach dev ' s ▁Chicago ▁Law , ▁A me et ▁Sach dev ▁and ▁are ▁critic ized ▁as ▁a ▁" part icular ly ▁no x ious ▁form ▁of ▁government al ▁deb t ". ▁In ▁this ▁interpretation , ▁the ▁up front ▁payment ▁from ▁the ▁priv at ization ▁sale ▁corresponds ▁to ▁the ▁principal ▁amount ▁of ▁the ▁loan , ▁while ▁the ▁proceed s ▁from ▁the ▁underlying ▁asset ▁correspond ▁to ▁secured ▁interest ▁pay ments ▁– ▁the ▁transaction ▁can ▁be ▁considered ▁substant ively ▁the ▁same ▁as ▁a ▁secured ▁loan , ▁though ▁it ▁is ▁struct ured ▁as ▁a ▁sale . ▁This ▁interpretation ▁is ▁particularly ▁argued ▁to ▁apply ▁to ▁recent ▁municipal ▁transactions ▁in ▁the ▁United ▁States , ▁particularly ▁for ▁fixed ▁term , ▁such ▁as ▁the ▁ 2 0 0 8 ▁sale ▁of ▁the ▁proceed s ▁from ▁Chicago ▁par king ▁meters ▁for ▁ 7 5 ▁years . ▁It ▁is ▁argued ▁that ▁this ▁is ▁motiv ated ▁by ▁" polit icians ' ▁des ires ▁to ▁borrow ▁money ▁sur re pt it iously ", ▁due ▁to ▁legal ▁restrictions ▁on ▁and ▁political ▁resistance ▁to ▁alternative ▁sources ▁of ▁re venue , ▁viz , ▁raising ▁tax es ▁or ▁issu ing ▁deb t . ▁▁ ▁Results ▁of ▁priv at ization ▁ ▁Liter ature ▁reviews ▁find ▁that ▁in ▁compet