50% Chance NYC Will Default On Its Debt
March 03, 2009 at 12:17 PM EST
[Skip to the end] NYC defaulted when I first started in the early 70’s. Charlie Sanford, my department head at Banker’s Trust, was the one who pulled the plug. He was at a meeting for a revenue anticipation bond and said in his distinctive voice something like, “Revenue, what revenue? We’re out.” > > On Tue, Mar 3, 2009 at [...]
