View all Events

Keeping New York In The Black: Our Current Fiscal Woes In Light Of The 1975 Fiscal Crisis

Thursday May 2009

Panelists: Stephen Berger, Chairman, Odyssey Investment Partners; Eugene Keilin, Co-Founder & Senior Advisor, KPS Capital Partners, LP; John E. Zuccotti, Co-Chairman, Brookfield Properties Corporation

Opening Remarks: Fred Siegel, Senior Fellow, Manhattan Institute, Contributing Editor, City Journal

Moderator: Dr. Frank J. Macchiarola, Chancellor, St. Francis College

New York is the only major city to have gone through repeated bouts of near bankruptcy most recently in 1932 and 1975. Now another 34 years later our spending levels exceed those of the early 1970s and our debt levels are climbing as in the 70s to unsustainable levels just as Wall Street has collapsed. What is there about New York that produces these recurring crises? What can the 1975 crisis teach us about what we need to do today?