Re: Ferrer vs. Bloomberg: Juan Gonzalez thinks thereis one hell of a difference
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/debatesvg/voterguides/general2005/ballotnyc04.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