[lbo-talk] Ferrer vs. Bloomberg: Juan Gonzalez thinks thereis one hell of a difference

Doug Henwood dhenwood at panix.com
Thu Nov 3 18:43:00 PST 2005


Michael Pollak wrote:


>They expire in 2008. Actually, fwiw, there are 2 NYC ballot
>proposals to be voted on next week, and the second one (Question 4,
>since there are also 2 NYS proposals) is about making the main
>provisions of the Financial Emergency Act permanently part of the
>City Charter. But notably excepting the Financial Control Board,
>which arguably changes everything:
>
>http://www.nyccfb.info/debates_vg/voter_guides/general_2005/ballot_nyc04.aspx

Thanks for digging that out. I wouldn't buy bonds that mature in 2009!

One of the reasons to vote No on that page:


>The proposal therefore creates a fiscal management system with "no teeth."

Several respectable fronts for capital seem to have endorsed it on that page, like the CBC. No cons.

Still the FCB is a state issue, so it probably doesn't matter what the city does here.

Doug



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