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‘Drop Dead City’ Review: A Gripping Look at How New York City Almost Went Bankrupt in 1975, Foreshadowing the Current Moment
It's a wonkish but gripping look at how New York's financial crisis of 1975 revealed a crack in the liberal dream.
New York was the Ur melting pot, a city of immigrants that incarnated a densely packed East Coast version of the American Dream. He was a tough, dry nut who spoke like a bulldog and stood at 5’2”, but he knew, from his time as comptroller, what a wretched state the city’s finances were in, and he wanted to clean them up. Felix Rohatyn was deft at bringing the different sides together, and at recognizing what was needed: a financial solution in which everyone — the unions, the state, the federal government — had skin in the game.
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