Greenspan warns NYC default could trigger wider crisis
Greenspan told a House subcommittee that a New York City default could have a potential ripple effect on the national economy though officials doubt a full panic would occur. He warned irrational investor behavior could trigger disruption, while he deemed such a chain of events unlikely. Other witnesses cautioned the catastrophe potential remains real.
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Washington
Alan Reenspan
President
Council of Comic Advisors
New York City
Greenspan
House
Anthony Toby Moffett
D-Conn
Robert Drinan
Dmass
New York
Elliott Levitas
Dga
F. Gerhard Adams
Wharton School of Finance
Philadelphia
Adams
NY default exodus looms as city faced with fiscal crisis
AP reports AFT president Albert Shanker warns New York City near default and unlikely federal aid. He says intervention unlikely but city residents could be forced to relocate, while a separate Brussels dispatch notes soldier Joshua R. Sanders of Los Angeles identified among three killed in a West German train collision with a civil sedan.
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Las Vegas
New York City
American Federation of Teachers
Albert Shanker
Frankfurt
West Germany
Joshua R. Sanders
Los Angeles
Calif
U.S. Army
New York
Peterson
Carey accuses Ford of fueling regional animosity over NYC loans
New York Governor Hugh Carey charged President Ford with dividing the country by opposing federal loan guarantees for New York City. Carey, in Los Angeles with four New York congressmen, urged backing while warning bankruptcy would harm the nation. the delegation planned to push the issue in multiple cities.
MENTIONED IN THIS ARTICLE
New York
Hugh Carey
Ford
New York City
Carey
Los Angeles
Tom Bradley
San Francisco
Richard L. Ottinger
Edward W. Pattison
Benjamin A. Gilman
Peter A. Peyser
Bradley
Congress
New York crisis lifts borrowing costs for states
A Municipal Finance Officers Association study finds New York City's distress raises borrowing costs nationwide by about 155 million dollars yearly. The report cites higher interest across states, with the Northeast hit hardest, and warns a New York default could worsen market conditions.
MENTIONED IN THIS ARTICLE
Washington
New York City
New York
Municipal Finance Officers Association
Northeast
New York State
Pennsylvania
North Dakota
U S envoy Phillip Sanchez Honored by Association
U S ambassador to Honduras Phillip Sanchez was named honorary alumnus of the year by the American Association of State Colleges and Universities. Fresno State University president Dr Norman A Baxter announced the selection from more than 350 nominations. Sanchez, a Fresno State graduate, also served as Fresno County administrative officer.
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Fresno
United States
Honduras
Phillip Sanchez
American Association of State Colleges and Universities
Sanchez
Norman A. Baxter
Fresno State University
FSU
Fresno County
Edwards Air Force Base proves Bl bomber tests speed low flight
In its 21st test flight the experimental Bl bomber sped over Edwards Air Force Base. It flew just 200 feet above the ground, a level intended to dodge enemy radar and improve survivability in combat.
MENTIONED IN THIS ARTICLE
Edwards Air Force Base
Desert Base
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Knight News Service
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Combined News Services
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America
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National League of Cities
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American Standard Kohler White & Decorator
American Standard
Kohler
Artistic Brass Distributors
UDR Us
E “Kohler Distributor
E. Anaheim ST
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Bankamericard & Master
U.S
John Julian
Rockwell
Skil
Homelife
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Barr Lumber
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General Electric
Trask Super Heavy
Chain Saw
Los Alamitos Blvd
Los Alamitos
Habla Espanol
Willow
Cerrios
Rick Holmes
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