Because we were under fiscal constraint. The Financial Control Board had been set up in 1975 by Governor Kerry with perilous times. We were on the brink of fiscal disholvency and I believe we're moving in that direction now. Felix Roatan of the bankers and Victor Gottbomb, who represented the unions, pooled their resources to keep the city afloat. I knew Victor later on in life and he explained to me how difficult the process was. (44:19–44:25)
CLAIM
Asserts that New York City was on the brink of fiscal insolvency and suggests it is happening again.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
