'Fast Eddy' Rendell Envisions a Bullet Train to Fantasy Land

Undoubtedly eyeing the $2.4 billion Florida passed up, former Pennsylvania Gov. Ed Rendell is lobbying for a federal-state-private partnership to launch a bullet train in the Northeast corridor.

Calling Amtrak's Acela train "a joke" (it only occasionally hits speeds of 100 mph), Rendell and investment banker Peter Peyser envision a public-private partnership in whichthe government entities would own 51 percent of a multistate compact to run a true high-speed rail line through the country's most congested transit corridor.

Sounds like a classic case of socializing the costs and privatizing the profits (if any).

Assuming this pipe dream were even possible, bank on Rendell's train set to come in way late and far over budget -- just like every other quasi-government rail project.

Read the fantasy of the former Democratic Party boss and NBC News "analyst" here.