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State Faces City Crisis Echoing Past Bailout Burdens
New York State again relies on its credit to aid New York City amid a year of fiscal strain. Gov. Hugh Carey defends intervention while critics warn of heightened debt risk. MAC, UDC, and emergency measures reveal deep budget pressures, with borrowing costs soaring and looming April to June needs.
MENTIONED IN THIS ARTICLE
Zsalbany, NY
New York State
New York City
Hugh Carey
Phate
Bovarnor
Carey
Senate
Warren Anderson
Assembly
Perry Duryea
Testate
Orp
Nelson & Rockefeller
GDC
UDC
Rockefeller
John Mitchell
Wall Street
Felix Rohatyn
Municipal Assistance Corp
Duryea
MAC
Financial Central Board
Abraham Beame
Arthur Levitt
Levitt