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Oct 16, 2015 · On October 16, 1975, New York City was deep in crisis. At 4 P.M. the next day, four hundred and fifty-three million dollars of the city’s debts would come due, but there were only...
- Jeff Nussbaum
In February 1975, New York City entered a serious fiscal crisis. Under mayor Abraham Beame , the city had run out of money to pay for normal operating expenses, was unable to borrow more, and faced the prospect of defaulting on its obligations and declaring bankruptcy.
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Aug 12, 2021 · In 1975, New York faced a classical Keynesian crisis, a depression in the real economy and a market failure in municipal bond financing, but it was a crisis without a Keynesian response.
Jul 25, 2013 · In October 1975, Mayor Abraham D. Beame signed a formal petition attesting to municipal default, but at the last minute, the city dodged the financial fate that Detroit suffered last week.
Oct 16, 2013 · Thirty-eight years ago, on October 17, 1975, New York City almost went bankrupt. Then as now, conservatives in the White House pushed a style of brinksmanship that could have forced a...
May 5, 2017 · By Jonathan Mahler. May 5, 2017. FEAR CITY. New York’s Fiscal Crisis and the Rise of Austerity Politics. By Kim Phillips-Fein. Illustrated. 401 pp. Metropolitan Books/ Henry Holt & Company. $32 ...
Feb 28, 2008 · What about New York City? Didn't it declare bankruptcy in the 1970s? No, but it came close. The city was teetering on the edge of bankruptcy in 1975 when it appealed to Washington for a...
