50% Chance NYC Will Default On Its Debt
Posted by WARREN MOSLER on March 3rd, 2009
NYC defaulted when I first started in the early 70′s.
Charlie Sanford, my department head at Banker’s Trust, was the one who pulled the plug.
He was at a meeting for a revenue anticipation bond and said in his distinctive voice something like, “Revenue, what revenue? We’re out.”
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> On Tue, Mar 3, 2009 at 10:35 AM, Russell wrote:
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> Gambling man?
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50% Chance NYC Will Default on Its Debt in 5 Years
by Joe Weisenthal
Mar 3 (Business Insider)
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