In the 1970s, New York City avoided bankruptcy because wise political leaders like Gov. Hugh L. Carey believed both in strong labor unions and robust banks and companies. (Felix Rohatyn)

In the 1970s, New York City avoided bankruptcy because wise political leaders like Gov. Hugh L. Carey believed both in strong labor unions and robust banks and companies.

Felix Rohatyn

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bankruptcy city labor wise 1970s gov

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