“The prospects of an early agreement between [New York City] and its bankers on an economy program … to avert payroll and interest defaults … remained doubtful yesterday.
“While the city and its bankers, with Governor Lehman sitting in, were striving to compose their differences, the city’s troubles were augmented by indications that the New York Stock Exchange was determined to carry out its threat to move to New Jersey rather than submit to … a 4-cent tax on stock transfers and a tax on brokers.
“… Governor Lehman’s conference … was concerned … with the single complex problem of rehabilitation of city credit by reducing expenditures to a ‘hard-times’ minimum. … The bankers … made it clear that they wanted the city to give up its ‘spendthrift’ habits immediately. … There was no talk of a higher transit fare ….” — New York Times, September 23, 1933
You may also like
New York’s Health Premiums Stayed at the Top in 2025
New Yorkers and their employers paid the highest health premiums in the lower 48 states in 2025, and their costs moved further above the U.S. average, according to recently released federal data.
Read More
NY’s Medicaid Fraud Watchdog Shows Declining Performance
Enforcement by the New York's Office of Medicaid Inspector General has dropped in recent years across a range of benchmarks – a sign that the state's anti-fraud efforts have slackened even as its Medicaid spending soared. Read More
The Attorney General’s MFCU SNAFU
Attorney General Letitia James' latest fight with the Trump administration focuses on New York's Medicaid Fraud Control Unit, a federally funded agency housed in James' office.
On T Read More
Healthcare Revelations in the Enacted Budget Financial Plan
The state financial plan published on June 10 disclosed key information about healthcare revenue and spending that lawmakers had not made public when approving the annual budget two weeks before.
Read More
Federal Suit Traces Medicaid Fraud to the Top of NYS Government
The Trump administration's latest salvo against Medicaid fraud takes aim at a different kind of target – two high-ranking New York officials along with a major state contractor.
A Read More
It Is Time to Rethink the Regional Greenhouse Gas Initiative
Before budget negotiations, Gov. Hochul warned that unless New York changes its climate plans, New Yorkers could face a $2.26-per-gallon increase in gasoline prices. The reason is the so-called “cap-and-invest” scheme, under which energy companies wou Read More
Healthcare Highlights in the New State Budget
Governor Hochul's focus on affordability seems to have skipped over the healthcare portions of the new state budget.
The deal finalized May 27 Read More
Lawmakers Consider Hiking Fees for Filling Prescriptions
UPDATE: The proposal discussed below passed the Assembly Friday evening by an unofficial vote of 133-0. Having previously been approved by the Senate, the bill will head to Governor Hochul's desk for her signature or ve Read More